Tag: small busienss
Do you know who made the items you bought this week?
From the desk of the empowered and crafty woman dropping knowledge on the world, lololol What is happening inside my brain today: (thank you “secret squirrel cbd strain haha) As we all know by now, Gypsy Spoonful is what we promote as “American handmade”. and no , we don’t have international sellers (yet) .. … read more
From the desk of the empowered and crafty woman dropping knowledge on the world, lololol


Facebook Speculation Rumors Swirl: Zuckerberg Suggests There Will Be a PAID Version in Future
Zuckerberg Suggests There Will Be a PAID Version For years, there have been rumors running around on Facebook saying that the social media giant was going to start charging for it’s use; and for just as many years a quick fact check on Snopes will easily put this top 15 urban legend to rest. However, … read more
Zuckerberg Suggests There Will Be a PAID Version
For years, there have been rumors running around on Facebook saying that the social media giant was going to start charging for it’s use; and for just as many years a quick fact check on Snopes will easily put this top 15 urban legend to rest. However, something wicked this way blows~ and it sounds like things REALLY may be changing.
Repost from Bustle:
Facebook Founder And CEO Mark Zuckerberg testified before Congress yesterday, (April 11, 2018) regarding privacy breeches encountered at the hands of what is being called The Cambridge Analytica
“There will always be a version of Facebook that is free,” Zuckerberg said when Republican Sen. Orrin Hatch asked him if the service he created will always be free to use.
The phrasing of that remark strongly implies that it’s at least possible that there will at some point be a version of Facebook that isn’t free. Many speculated that this hypothetical paid version of Facebook would be ad-free, given that Zuckerberg was discussing the importance of advertising in Facebook’s business model when he made the comment.
Of course, this is all complete speculation. Zuckerberg made a throwaway comment that didn’t close the door to the possibility of a paid version of Facebook — but that’s about all he did. Zuckerberg made no official announcements, and didn’t even confirm that the company is looking at the possibility of a premium version. He simply hinted obliquely at the possibility.
The idea of a paid, ad-free version of Facebook has been floated in the past. In 2013, Twitter co-founder Biz Stone proposed that Facebook adopt such a business model — not as a means of protecting users’ data, but as a means of making more money.
“I’ve got an idea for Facebook,” Stone wrote in a Medium post. “They could offer Facebook Premium. For $10 a month, people who really love Facebook (and can afford it), could see no ads. Maybe some special features too. If 10% percent of Facebook signed up, that’s $1B a month in revenue.”
Moreover, a rumor circulated in 2009 (and several times since) that Facebook was going to start charging users to access the website. Needless to say, that never happened.
Not everybody is sold on the idea of a premium version of Facebook, however. Apple co-founder Steve Wozniak told USA TODAY on Wednesday that he doesn’t think users would pony up the extra cash for an ad-free Facebook experience.
“You would say, ‘I’m really paying $1,000 a year for this Facebook service when I can do email and other sites?'” Wozniak hypothesized. “There’s a lot of ways to be in contact with people.” He added that an ad-free version would provide “one little level of guarantee and privacy,” but probably wouldn’t alleviate all of users’ concerns about how their data is used and shared.
Goosie Commentary: I think most of the analysts who are predicting an “ad-free” version of Facebook may be off target. Where I see this going is offering Facebook free for regular users, and then Zuckerberg and his crew creating a paid version for businesses. I don’t think ad-free is ever the way they’re going to go. Ad dollars are their bread and butter. Offering premium services to businesses to be seen again by followers (instead of boosting posts) will be the way it goes in my humble opinion. The slippery slope to a paid version for businesses seems to have started a couple of months ago with Zuckerberg’s statement when he basically killed Facebook Pages for Business and Brands. He hinted then that there would be a separate place for Facebook Pages. And I believe that was the first step in separating “Regular Facebook users” from “Business Facebook Users”. I knew this was coming, I can almost guarantee that Businesses and Brands will be offered a premium version and if they don’t subscribe they’ll remain “dead” in “no man’s land”, or eliminated all together.
How will this affect Small Business Owners that use Facebook to share, promote, market and otherwise grow their customer base and reach? it’s going to hurt a lot. I think it’s going to be a pay to play type of scenario, and most of us are on shoestring budgets and live sale to sale as it is now. Don’t quote me on my commentary and my prediction, but I’d be you dollars to donuts this is what will be happening in the future.
What do YOU think Mark Zuckerberg was alluding to in regards to the future for his social media cornerstone? Drop us a comment and let us know what you think.
If you’re a small business or handmade shop owner, would you pay to have a business facebook account? How MUCH would you be willing to pay per month? Drop a comment below and join the discussion.
Zuckerberg Announces BIG Changes for Business Pages on Facebook. Coming Soon in 2018. Small Business Apocalypse.
Did you hear about the BIG changes coming to Facebook for businesses??!! straight from the horse’s mouth: Last Thursday, Zuckerberg stated the company intends to bring personal interaction back to Facebook, ensuring that users see more of their friends’ posts and less content from brands, media and other groups that utilize Facebook pages. While this … read more
Did you hear about the BIG changes coming to Facebook for businesses??!!
straight from the horse’s mouth:
Last Thursday, Zuckerberg stated the company intends to bring personal interaction back to Facebook, ensuring that users see more of their friends’ posts and less content from brands, media and other groups that utilize Facebook pages. While this will make for a more enjoyable social experience on Facebook, one of the drawbacks of this change is that many of the businesses, brands or media that users want to follow will not be visible as often. For instance, if you follow a business page and enjoy seeing their posts, this new change will hide most of their updates.
As if the algorithms and the pay to play post “boosting” didn’t do enough damage to our small businesses, now he’s coming right out and saying that businesses and brands will be buried and hidden even more!!
Those of us who managed to dodge paying to boost posts just to reach a 1/10 of the people who actually follow our pages, will suffer even more. Small businesses who don’t have an advertising budget will all but be obliterated in the new Zuckerberg Facebook 2018 plan…
For those of you that have trusted my advice and suggestions in the past as far as social media go, I want you to know I am working on an ebook to explain these changes and I’m brainstorming workarounds for this “new era” for businesses coming SOON on facebook. I”ve been quoted in several publications (blogs, newspapers, magazines etc) as well as being quoted in two books as a small business and social media expert. If there’s a will there’s a way, and Goosie is on the case…
Please comment and let me know if you’d be interested in my ebook, and what you think of these new changes Zuckerberg thinks will be so awesome
Why Join The Gypsy Spoonful Creative Community?
On Gypsy Spoonful… ?we are 100% handmade ?nothing is imported ?Everything is hand crafted from real people who operate their own independently owned American small businesses. ?We allow you to run your business the way YOU want, we TRUST you to make great decisions on what products to sell, we TRUST you to be able … read more
On Gypsy Spoonful…
?we are 100% handmade
?nothing is imported
?Everything is hand crafted from real people who operate their own independently owned American small businesses.
?We allow you to run your business the way YOU want, we TRUST you to make great decisions on what products to sell, we TRUST you to be able to get inquiries and be able to EMAIL the sender directly, we don’t keep communication trapped within the site (because we TRUST you to be responsible)
?We allow you to put outside links in your listings (to your facebook, or instagram for example) , because we TRUST you not to circumvent customers to another platform.
?We won’t shut your shop down based on a random complaint, we have our maker’s backs and will investigate FAIRLY and give you the opportunity to respond as well.
?. There is no monthly shop fee, there are no listing fees, and no renewal fees. You can relist when and how often you want, listings run forever. The final value fees are modest , even on digital/pdf products (some sites take 50% of pattern sales! Gypsy Spoonful only takes 2.9% + Paypal fees and a 2% masspay fee) . If it doesn’t sell, you don’t pay a thing!
?You have the support of a creative/entrepreneurial community, cheering you on the whole way. Our admin team has over 30 years of online selling experience (in the handmade/boutique worlds) . We know what works and what doesn’t work. The founder (me, Heather Gray) has been in business for 14 years selling boutique/handmade items, she’s a published author, has designed for a-list celebrities, been on television, been blogged about, used as a small business expert in articles and books. We have experience in the trenches, we have tried different things, let our leg work be on your side. We’ll save you time and effort by giving suggestions of what we’ve learned over the years. We’re always experimenting, trying new things in the way of marketing and promotion for our makers. In just 8 short months we’re getting amazing traffic, inquiries, sales and we’re up to about 125 shops right now.
?We may be new, but that means it a ground floor opportunity to get involved in a VERY EXCITING movement ~ we’re not just about selling, we’re about making handmade a LIFESTYLE. A viable choice in the marketplace, where disposable products have sullied the quality of goods that consumers have as a choice. We believe in handmade, and all that it represents. We believe in small business. We believe in supporting local small businesses before big box stores and fortune 500 companies. We believe in America, and that as Americans, we can bring superior products to the marketplace as exceptional choices for consumers.
? Where else can you get training, tips and help from the people that run the site? When was the last time the CEO of any selling platform sat down with you and gave you tips on taking photos, asked for your input on an idea for an important new feature for the site? YOU count, and MATTER at Gypsy Spoonful. We aren’t out to profit on your hard work, we’re also here to help you GROW because we believe in empowering other small business owners.
?If you’re interested in getting involved in what we’re doing, we’re looking for new makers, we are a curated site, meaning we don’t allow everyone to just join, there’s a vetting and interview process (and we do have a wait list). If you’re a hard worker who is not afraid to put in the time/effort/work and be involved in a community setting, with helping make decisions and give input about the direction we are going, we want you to be a part of Gypsy Spoonful.
https://gypsyspoonful.com/market/join/
?We’re also looking for bloggers who want to contribute as guest bloggers with small business topics, marketing & PR, & branding tips, handmade DIY tutorials, etc (email goosiegirlboutique@gmail.com)
If you made it through this LONG post, you deserve a HUG!!

A New Etsy Alternative For 2017 : Where Can I sell my Handmade Products? Best Solution
Etsy Alternative ? Seeking other options to sell your handmade products? Looking for a truly handmade marketplace? We have a great Etsy Alternative for you. The Best solution is right in front of you, Welcome! Etsy Alternative Over the past 3 months, 115 independent small business owners have chosen Gypsy Spoonful as an Etsy alternative. … read more
Etsy Alternative ? Seeking other options to sell your handmade products? Looking for a truly handmade marketplace? We have a great Etsy Alternative for you.
The Best solution is right in front of you, Welcome!
Etsy Alternative Over the past 3 months, 115 independent small business owners have chosen Gypsy Spoonful as an Etsy alternative. What makes it a good Etsy Alternative ? Gypsy Spoonful was built for makers, by makers! We (founder + 2 amazing admins) understand the hustle and the struggle, we have been out here in the trenches for 30 years collectively Building relationships with customers shouldn’t break the bank.
Create sustainable, repeat business on Gypsy Spoonful
Our goal is to give you the simplest and most fun way to sell online with a supportive community holding you down.
Free Listings
Low Fees
Friendly Support
How do we help you succeed?
Gypsy Spoonful is focused on providing sellers with the tools to build their dream businesses, and each of the features in our creative community has been carefully created to help you build your brand and sales. Once you put these features into play, you’ll be ready to welcome your shoppers into your booth with a strong brand presence that will turn more browsers into loyal customers! When a shopper enters your Gypsy Spoonful shop, you have the same opportunity to connect with them and promote your products as you would if you had a brick-and-mortar store.

Built in features to help you rock it out:
- Your Shop Contact Information and social media links
- Shop Description
- Shop Policies
- Shop Banner & Logo
- Featured Shop Listings
- Customizable Social Profile
- Product Page Box
- Group Creation, Memberships and interaction with browsers
Giving your shoppers plenty of ways to connect with you is a terrific idea. Add your business’ social media accounts to keep your new fans up to date on your freshest merchandise and special promotions by easily linking and sharing your listings with them via Pinterest, Twitter and Facebook.
Your shop description is a great opportunity to tell shoppers your own unique story. Share your knowledge and passion for what you sell, ultimately convincing your customers that buying from you is a great idea. This allows you to clearly communicate the value of your products to your customers and helps earn their trust.
Your shop policies area is the perfect place to address your customers frequently asked questions. Include policies not covered by your shipping and return section, special instructions, or any other information you’ve found is helpful to your buyers.
Shop banner and logo- Build a strong brand presence with a customized shop banner. Whether you choose from our in house designer or create and upload your own, be sure to select a banner that visually represents your store and offerings, solidifying your branding.
Select up to four featured listings to showcase your most popular items, seasonal merchandise and any promotional markdowns or coupons that you want to promote to your buyers. Shoppers will see these attractive listings displayed above the rest of the products in your shop.
Gypsy Spoonful’s Caravan is the social hub of our site. Each new member receives a fully customizable social profile where they can let customers get to know them even better, and also share news about things that are happening in their shops via status updates that appear in the “gypsyfeed” / aka newsfeed in the caravan.
Also in our caravan area members can form or join existing “spoonfuls” aka groups to discuss common interests, a passion for a hobby or crafting skill they know or want to learn. Host an online class or workshop in real time!
Ready to begin a wonderful adventure with Gypsy Spoonful?
Fill out an application and begin the process today to open a shop at the best solution for Etsy Alternative marketplaces in 2017. click to:
Still thinking about it?
Stay in touch. Join our mailing list for selling tips, special offers, and more.
Wow, you’re still reading? You’re relentless! If you want to read more about selling on Gypsy Spoonful, check out these helpful links:
Get The FREE Gypsy Spoonful App for iPhone or droid devices
Find and shop with local to YOU makers on Gypsy Spoonful’s site
*Gypsy Spoonful has no affiliation with Etsy. If anything, we’re politely tolerated.
Turn Around Bright Eyes…. Eclipse 2017 Info, Viewing Tips, Fun Activities and Viewing Schedules
We are celebrating the day the moon high fives the sun! At Gypsy Spoonful, we’re always in the path of handmade totality! Sometimes shopping at other venues can be confusing, you’re not sure what is handmade and what’s not anymore, but at Gypsy Spoonful, there’s never a doubt, The future for handmade is BRIGHT… Gypsy … read more
We are celebrating the day the moon high fives the sun! At Gypsy Spoonful, we’re always in the path of handmade totality! Sometimes shopping at other venues can be confusing, you’re not sure what is handmade and what’s not anymore, but at Gypsy Spoonful, there’s never a doubt, The future for handmade is BRIGHT… Gypsy Spoonful outshines the competition when it comes to supporting small handmade makers! Don’t be left in the dark and accidentally buy mass produced items masquerading as handmade, shop Gypsy Spoonful and there’s never a chance of that happening.The biggest celestial event of 2017 will take place on TODAY!! Monday, Aug. 21, but you may miss it if you do not know precisely when to look.
Moon and Sun Cuffed Etched Bracelet click HERE to see it LIVE on Gypsy Spoonful
The moon’s shadow will travel from the West Coast to the East Coast of the United States with only a narrow zone, called the path of totality, experiencing a total solar eclipse.
In this path, the moon will block out the sun completely for less than three minutes, so being in the path at the correct time is extremely important.
© Provided by AccuWeather
Western US
The first people in the country to see the eclipse will be along the coast of Oregon where the moon will start to block out the sun around 9:04 a.m. PDT and will completely cover the sun by 10:17 a.m. PDT.
Portland and Eugene, Oregon, sit just outside of the path of totality, so people looking to the sky in these cities will experience a partial solar eclipse with the sun blocking out 99 percent of the sun.
© Provided by AccuWeather
Rocky Mountains
The shadow of the moon will make its way eastward as the day progresses.
The eclipse will begin in Grand Teton National Park, Wyoming, at 10:16 a.m. MDT, with the moon blocking out the sun completely by 11:36 a.m. MDT.
The neighboring Yellowstone National Park will not experience a total solar eclipse. During the height of the eclipse, spectators in Yellowstone will still see a small sliver of the sun as the moon blocks out 98 percent of the sun’s light.
Casper, Wyoming, is one of the bigger cities in this part of the country that will experience a total solar eclipse around 11:43 a.m. MDT.
Central US
As the moon’s shadow tracks across the heartland of the U.S., it will pass over several cities, including Lincoln, Nebraska, Kansas City and St. Louis.
People in these cities will need to plan accordingly as each city is right on the edge of the path of totality. This means that part of the cities will experience a total solar eclipse, while other portions will not.
Carbondale, Illinois, is also situated in this part of the country and will be a popular location on Aug. 21, as it will experience totality for a little over 2 minutes and 40 seconds, longer than anywhere else in the country.
Eastern US
The southeastern U.S. will be one of the most popular areas in the country for viewing the eclipse on Aug. 21. It is the closest place for the millions of people along the East Coast to experience the total solar eclipse.
The eclipse will occur early in the afternoon across this region, but spectators should arrive at their viewing location in the morning due to the volume of people traveling to see the celestial event.
Traffic is expected to be more congested than usual, including along portions of Interstates 20, 26, 40, 59, 85 and 95.
AAA is reminding drivers not to stop along the highway to watch the event and not to wear eclipse glasses while driving.
© Provided by AccuWeather
Coastal areas of South Carolina will be the final place in the United States to experience the total solar eclipse, with the peak eclipse occurring around 2:47 p.m. EDT and the shadow of the moon moving offshore shortly after 4 p.m. EDT.
This will not be the end of the eclipse, as the shadow of the moon continues over the Atlantic Ocean.
A select few aboard a Royal Caribbean cruise will be some of the final people in the world to view the eclipse as the ship sails through the path of totality. For the exact times that the eclipse will be visible across the world, check out NASA’s interactive eclipse map.
Isn’t this love you to the moon and back bracelet fantastic? what a wonderful way to remember this day by…
Got Pets?
The big total solar eclipse is set to hit North America today (August 21st), and if you’re like me, you’ve been scrambling to find a pair of viewing glasses for the big event. In all the hurry to see the eclipse, it’s easy to forget about the little guys in your family: your pets. Animals, even tame ones, have behavior that’s heavily tied to the sun and night cycle.
The big issue is, there’s not a lot of awareness of how eclipses affect animals. Some Cleveland pet owners interviewed by TV News thought their pets might want to hide, others were concerned about their dogs and cats staring into the sun and hurting their eyes. It’s a valid concern, of course, but the danger isn’t as clear and present as it might seem.
Dr. Evan Morse of Warrensville Animal Hospital thinks most animals will simply act like they do when the sun goes down normally. It’s likely they furry friends will believe that it’s nighttime and will go about their routine. Morse says dogs and cats don’t tend to look at the sun anyway, so they’re not going to be suddenly interested in it just because of the eclipse.
But if you’re outside walking around with your canine or feline friends you might want to make sure they don’t keep staring up at the sky or anything like that when they notice something changing around them. This shouldn’t be too big of a concern, but just in case you might want to shelter your pet until the eclipse has passed.If you notice your animal getting nervous or restless, chances are it’s because they’re picking up on your excitement about the eclipse. The best way to make sure that your pet makes it through the eclipse unscathed is to simply be aware and make sure they’re just as safe as they normally are.
Aren’t these sun hair bows from Bows and More By T Adorable? Here’s a link to see them LIVE on Gypsy Spoonful
Make a viewer this morning while you still have time!!
If’ you’re a slacker and didn’t pick up any of the viewing glasses made specifically for the eclipse ,HURRY and make an eclipse viewing box! Here’s some instructions on how to make one from a cereal box , directly from Nasa so you know it’s gotta be safe! Click here: https://eclipse2017.nasa.gov/sites/default/files/EclipseCerealBoxViewer.pdf
Take a peek at these adorable star bubble shorts on Gypsy Spoonful click here to see them today LIVE
Further Fun & Suggested Reading:
25 facts you should know about viewing the 2017 Total Solar Eclipse from Astronomy Magazine
Click on the pic to get a cool craft for kids to do today!
One Skein Project. Free Tutorials : Snowdrops Mod Scarf Crochet Pattern by Left in Knots
I was tickled to see this adorable scarf pattern from the amazing Left In Knots. This would be SUCH a great gift for someone. I love the tappered into tassle ends, the ombre coloring is so fun too! Of course, you can choose any color skein but this one is especially adorbs! I love when … read more
I was tickled to see this adorable scarf pattern from the amazing Left In Knots. This would be SUCH a great gift for someone. I love the tappered into tassle ends, the ombre coloring is so fun too! Of course, you can choose any color skein but this one is especially adorbs! I love when makers are generous and share their patterns, so please do me a favor & go to the Left In Knots Site and follow Megan ( be sure to tell her Goosie said hello!)
The Snow Drops Mod Scarf is a super-stylish one skein project ~This scarf is made with the star stitch with makes a beautiful-snowflake like texture. Combine that with the icy colors of Caron Cakes “Faerie Cake” yarn and this scarf is perfect for winter! I also think the Pima cotton yarn would work amazingly well, click to see the shades of blue I’m in love with HERE~ She even has an AWESOME video tutorial to get you started learning the star stitch 🙂
Here are the instructions (she also has a matching snowdrops skinny scarf pattern on her website)
Abbreviations
ch: chain
sl st: slip stitch
SC: single crochet
HDC: half-double crochet
HDC2Tog: Half double crochet two together (aka HDC decrease)
LOH: loops on hook
Special Stitch
Star stitch: WATCH THE VIDEO TUTORIAL HERE
First start stitch of a row: Ch 2, Insert hook into back loop of the second ch from the hook and pull up a loop (2 LOH), insert hook into front loop of the same ch stitch and pull up a loop (3 LOH), insert into the next 3 sts and pull up a loop through each one (6 LOH). YO and pull through all 6 loops, ch 1 to make the “eye” of the star.
Star stitch: Insert hook into the “eye” of the previous star and pull up a loop (2 LOH), insert hook into the last post of the previous star and pull up a loop (3 LOH), insert your hook into the last stitch of the previous star and pull up a loop (4 LOH), insert hook into the next 2 sts and pull up a loop in each one (6 LOH). YO and pull through all 6 loops, ch 1 to make the “eye of the star.
Finished Size:
Approximately 6′ long
Pattern Notes
Chain stitches at the beginning of rows do not count as a stitch
Increases and decreases will all happen on the the same side of the scarf. This will create the triangular shape.
Instructions
Ch 3
Row 1: HDC in second ch from the hook, HDC across (2). Turn
Row 2: Ch 1, 2 HDC in first st, HDC across (3). Turn
Row 3: Ch 2, make the first star stitch of the row (1 star). Turn
Row 4: Ch 1, work 2 SC into the eye of the star stitch in the previous row, 1 SC in the last stitch (3). Turn
Row 5: Ch 1, 2 HDC in first st, HDC across (4)
Row 6: Ch 1, HDC across, 2 HDC in last st (5)
Row 7: Ch 2, make the first star stitch of the row, star stitch across (2 stars). Turn
Row 8: Ch 1, 2 SC in each “eye of the star” from the previous row. SC in last stitch of the row (5). Turn
Row 9: Ch 1, 2 HDC in first st, HDC across (6)
Row 10: Ch 1, HDC across, 2 HDC in last st (7)
Rows 11-89: Repeat rows 7-10. Row 89 will have 46 HDC sts across.
Row 90: Ch 1, HDC across, HDC2Tog in the last 2 stitches (45) Turn
Row 91: Ch 2, make the first star stitch of the row, star stitch across (22 stars) Turn
Row 92: Ch 1, 2 SC in each “eye of the star” from the previous row. SC in last stitch of the row (45). Turn
Row 93: Ch 1, HDC across, HDC2Tog in the last two stitches (44). Turn
Row 94: Ch 1, HDC2Tog, HDC across (43). Turn
Row 95-178: Repeat rows 91-94. Row 178 with end with 2 HDC across.
Make your tassels (pom poms would also look great!) and attach them to each end of the scarf. And VOILA! You have a modern and adorable winter scarf. (see this free tutorial on craftsy.com ~downloadable ~ on how to make tassels by hand)
If you liked this free tutorial, please stop by Megan’s blog and tell her Gypsy Spoonful sent you and give her a follow.
You may also like some of these crochet items in our marketplace and many other crochet patterns available on Craftsy as well.
Have a free tutorial to submit to Gypsy Blogful? Email us!
We’d love to share it on the blog!
Entrepreneurship Ain’t For Sissies
I’ve often said it takes a special breed of person to be an entrepreneur. Being your own boss, starting your own business and growing that venture will test you to every limit you have. Personally, it will either make or break you. In the boutique and handmade world, we see trends come and go, we … read more
I’ve often said it takes a special breed of person to be an entrepreneur. Being your own boss, starting your own business and growing that venture will test you to every limit you have. Personally, it will either make or break you. In the boutique and handmade world, we see trends come and go, we see hot products everyone wants… supply and demand ebbs and flows, but what makes a small or micro-business be able to stand the test of time?
I’ve personally been the owner of my own small business ( Goosie Girl) for almost 14 years now. The Wall Street Journal reported in September 2013 that 56% of Americans thought that they were capable of launching their own company while 9% actually took the plunge and took steps to start a business. Against this backdrop of optimism and confidence stands another set of sobering statistics that outline the causes of small business mortality. Small business failure rates vary, but from 50-70% fail within the first 18 months.
To gain insight to the contributing factors to business mortality, researchers at the University of Tennessee studied failures of thousands of small businesses and attempted to identify the primary culprit leading to demise. They grouped their findings into broad categories but “drilled down” within each to identify root causes of failure.
The leading cause of business failure was determined to be “Incompetence”. Fully 46% of failures could be explained by this broad-brush term. The specific behaviors that underlie this headline, however, are fairly specific and revealing. These include:
- Taking an emotional approach to pricing
- Non-payment of taxes
- No knowledge of industry pricing conventions
- No knowledge of financing requirements and conventions
- No experience in record-keeping
- Living beyond the means of the business
- Lack of planning
Next in line as a primary contributor to business failure was “Unbalanced experience or lack of managerial experience”. This condition explained 30% of small business failures and was manifested primarily by poor credit-granting decisions.
Eleven percent of failures were attributed to “Lack of experience”. Specific shortcomings that proved lethal included the failure to maintain adequate inventory, no knowledge of suppliers and wasted advertising budgets.
*Source http://isbdc.org/small-business-failure-rates-causes/
The point is that few entrepreneurs, especially first time entrepreneurs, are ready for what comes at them from a people perspective when building a business. In order to succeed, they need to be able to step outside of their comfort zones and reinvent themselves – finding the courage to do things they never thought they’d have to do, or that they’d be capable of doing. I have often said, in business you must constantly reinvent yourself, or find new products, or find new ways of doing the important things which keep a small business afloat such as promotion, networking and marketing.
So how can entrepreneurs get out of this conundrum and learn to reinvent themselves while at the same time reinventing their business?
- The first step is two-fold: recognizing that reinventing yourself is just as important a task as reinventing your business. Then, once you’ve convinced yourself of the imperative, doing an inventory of your challenges. No one likes to admit weaknesses, but just as you look for the strengths, weaknesses, opportunities and threats (SWOT) in a business deal, use that same rubric on yourself. Where are your blind spots? What do you struggle with? Be honest.
- The second step is to assess your own personal motivation. You’ve done your personal analysis and find that you struggle with sales, or networking or at delivering bad news. The next step is making sure that this is something you actually care about improving. What’s in it for you to get better at this? Will it help your company grow and thrive? Probably. Will it help you become a more effective businessperson? Will it help you achieve your goals and ambitions? Definitely. Embracing your internal motivation is an essential step for making anything happen, especially personal transformation.
- Finally, the last step is to beta test your newly reinvented self. Try out the new behavior. Look at how others do it, and ask friends for help. Maybe even enlist the help of a coach. If beta test number one doesn’t work, try again. Tinker with the behavior, or try it in a different setting. Remind yourself of your motivation to go out there and do it, and just like you’d beta test and improve a product, do the same with this new version of yourself.
- *Source: Linked In Article by Andy Molinsky
You miss 100% of the shots you don’t take
there are many reasons to tweak your business model–or to try out a whole new one–that make perfect sense. If you do it thoughtfully, it could be the best business decision you ever make. ~ Entrepreneur Magazine
If this information has urged you in the direction of reinvention of your small business,and tipped the scales for our readers who are makers looking for a new venue, such as Gypsy Spoonful here are the top three tips on HOW to do it sourced from Entrepreneur Magazine and some experienced business coaches such as Karyn Greenstreet, a Philadelphia-area small-business coach specializing in self-employment and business reinvention as well as Steve Strauss, a business speaker and author as well as a columnist for USA Today
- 1. Know When to Make a Change : Timing Is crucial. The first step is deciding if it’s the right time for a change. (Every.Single.Day. I receive applications from makers wanting to abandon the venue they are currently selling on and joining up with Gypsy Spoonful. A popular marketplace has definitely changed, and many are jumping ship. If it’s working for you, I’d advise to keep selling there, but NEVER keep all your eggs in one basket. A variety of marketplaces are GOOD to reach different customer bases. By all means, if it’s not working for you anymore due to policy change, lack of support, mass produced or imported items being sold on the same venue and undercutting your pricing… then it’s time to move on. We are entering a new season for handmade~ and the time is ripe for a marketplace solely dedicated to handmade goods.)
- Decide What You Want
After the decision is made to change, you need to decide what type of change is necessary to meet your goals. “Once you decide there’s something you can do better, you need to decide whether to make a little tweak or a major overhaul,” Strauss says. “You have to decide what’s best for your brand. (Learning a new craft and/or adding a new item to your product line up can bring new life to your handmade microbusiness. Once you decide what it is you truly want out of your business, It is so true to say “Entrepreneurs have more ideas than they have time for. The absolute first stage is deciding to cut off all those other ideas and focus on one. Making a decision to make a decision is the hardest thing for entrepreneurs to do.” Once you have clarity on your goals and values, making a decision should be easy. (We often ask potential new members to read what Gypsy Spoonful believes about handmade, and small business, and doing business in America before committing to applying as a maker. You can see this our ideals and values by clicking here.)- The next step is something every business owner should be experienced at–making and following a business plan. “You need to act as if you’re starting from scratch,” Strauss says. “You need to think it through thoroughly, figure out who the competition is, how you are going to beat them and what the costs are. Strauss and Greenstreet suggest sharing your plans with other business owners or a mastermind group. “Entrepreneurs tend to rely on intuition a lot, but you need to make sure other people think your plan is a good idea,” Strauss says. (This is why Gypsy Spoonful has been built around the concept of “community”, we rely on our “mastermind group” to support, share and build each other up. Being an entrepreneur can be a lonely venture, if you are in community with other like-minded small business owners, it makes it more enjoyable, less stressful and you can learn from other’s successes and mistakes as well).
“Business owners sometimes need people to bounce things off of to keep them from going off in crazy directions,” – Pamela Wilson
During the transition, you’ll likely be running two shops at once as you phase out the old business model and ramp up the new one. “Sometimes reinvention means running two businesses simultaneously for almost a year,” Greenstreet warns. “It’s overwhelming, and business owners are often so excited about the new model, they want to let go of the old model. It’s like going through a long divorce before committing to a new relationship.” The solution is to create a detailed exit strategy. (Gypsy Spoonful doesn’t want to be the only venue you’re a part of, we just want to be the best and favorite one 😉 )
Entrepreneur’s article suggests to : “Be transparent through the whole process with vendors, customers, employees and, most important, your family. Give everyone notice that changes are coming, when they will happen and what it means for them.”
If it’s time to reinvent your business and switch venues, and hop aboard the NEW home for handmade, we encourage you to go through the application process: Get the process started here