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How early should I get started with creating my business?

Crochet business/art business
#CV23

+25 Karma if successful
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Subject: Career question for you

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david’s Answer

Hi, Sylvia,

With crochet and art, I think you're safe to start immediately. There are always craft fairs, and there are other events that are good opportunities. For example, a friend of mine makes jewelry and goes to many events (such as car shows) and sets up a table, which always proves attractive to women attending the event. It may help, in starting, to create many small crochet items that are commonly desired, or small art drawings in frames that can be readily purchased. In those first few events, you will get a feel for what people like and, if you have business cards, you can make those available for special orders. Early experience will also help you start planning what products and services you are prepared to offer.

Some important mechanics to consider: good bookkeeping is vital. Invest in an hour with an accountant to advise you of any legal issues and paperwork to anticipate (such as collecting taxes and reporting them), carefully define a price for your products that will absorb your costs and show a profit.
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Subrat Kumar’s Answer

The ideal time to start a business depends on several factors, including the type of business, your level of experience in the industry, your financial situation, and other personal commitments. However, here are some general guidelines to consider:

1. Desire: Will the customer need it? (Research about your customer or Talk to your customer)
2. Usability: Can customers use it? (in case it's a technical product or hardware product)
3. Feasibility: Can you build it? (Business plans Business Canvas will clear your thoughts)
4. Business Viability: Is it viable? (Financing: How you get started and how you will make it scalable)

Additionally, You can do some market analysis and legal requirements for your business.

Always create a minimum viable product before launching a big project. It will help to shape your thoughts and build what the customer wants.

To succeed in business, you need to start preparing early. You should conduct thorough market research, develop a solid business plan, secure funding, and fulfill any legal requirements early on in the process. Remember to also consider your personal circumstances before embarking on this exciting journey!

If you want to go in that route, start now.
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Lauren’s Answer

I agree with others, start whenever you are ready! If you want to start small, like a side hustle or something, the biggest piece of advice I have is to carefully track how much you spend on supplies and how much you make on your products and compare those numbers. Too often, people sell their crafts and art without checking it against their costs to see if they are actually making any money!
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Rebecca’s Answer

Thank you for your question. I am glad to hear that you would like to be entrepreneur.
There is no fix time/age to start the business. However, you may need to have the start up funding and you possess the required skills & knowledge. Have you thought about what you industry you would like to start you business?
Below are my suggestions:
1. Think about what industry you have interest or you possess strength on it
2. Do market analysis on the industry, e.g. Entry criteria, competition, any substitute/alternative, etc.
3. Take industry relevant courses and management courses
4. Work in the industry some time to understand the business model and establish people network
5. Start the business online if possible.
Hope this helps! Good Luck!
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Madisyn’s Answer

Hi Sylvia,

It's great that you want to start a crochet business!

In my opinion, it's never too early to start. You can begin by working on your craft (e.g., learning specific crochet patterns, which colors look nice together, your signature pieces, etc).

After you feel satisfied with your crochet skills, you can start to sell your designs. Firstly, you can sell to your friends and family that like your products. Additionally, you can utilize social media platforms to promote your designs and gain clientele outside of your immediate circle.
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Shannon’s Answer

Start as soon as you can - even if you don't feel 100% ready. Starting is the hardest part, then once you get going, learn from successes and mistakes, it becomes easier. I would suggest starting small (e.g., maybe on Etsy) to test demand for your work and get feedback from your customers - to understand any changes you may need to make before going 'big'.
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Kendall’s Answer

Start as soon as you can. Learn from your failures, adjust your business plan. The earlier you start, the more you learn.

Kendall recommends the following next steps:

Find people who need your products
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