Top 3 Mistakes I Made as a Small Business Owner

Flashback to the year 2017, I run a handmade jewelry business out of a hobby.

Here are the top 3 mistakes (out of about a hundred mistakes. hehe) I made when I was just starting my handmade jewelry business:

1. Forever shipping - fulfilling orders used to take anywhere from 2 weeks to 4 months and it was up to customers to ask for follow-ups. When orders came in through our Facebook page, one way or another, I often forgot to pass the requested design to the artist, prepare the necessary raw materials, or sometimes neglected to provide clear design instructions to the artists – resulting in delays. 📦

2. Over-spending on materials - Our house is more like a storage room full of boxes. I kept purchasing materials just because they are “pretty” or “maganda”, regardless of whether it was going to be something useful or not to the business. The money is literally sleeping inside those boxes. 💸

3. Lower or “palugi” price - I was scared to price my creations properly and I was barely making a profit. I realized it was primarily because I was afraid people will reject my art. Thus, I ended up with customers who weren't exactly my ideal audience. They were always trying to negotiate the prices and it felt like my hard work was being undervalued.💔

So I decided to make a bold move. I changed my price, hence, changed my product positioning. Increasing my prices allowed me to attract a different kind of clientele – people who genuinely valued art (no tawad, willing to wait, appreciative of the art pieces).

I started to notice a positive shift in my business. My client base expanded and some of my clientele included well-known actresses. The media took notice of my creations, and I got featured in prestigious publications like Forbes and more.

‍What did I get from all of these?

I grew! It was the best decision I made. 🌸 It just goes to show that valuing your own work can make all the difference in the world. 

So, if you're starting your own business, remember this: 

“Don’t be afraid to increase your prices”.

Embrace your worth, and believe in your talents and you will attract the right audience who will appreciate the beauty you bring into the world.

And with that, my awkward tale comes to an end. 😆I hope you enjoyed it and learned a thing or two from my journey!

If you are a business owner and have other things that you would like for us to discuss such as pricing, sales strategy, marketing, or anything under the sun, just tell us in the comment section and we’ll try to schedule it.