The Swarovsky Lesson
A friend of mine had the talent of making customized jewelry using basic materials and Swarovsky crystals. After I saw the products she made I got excited almost immediately and suggested that we go around selling the crystals through a blog shop. In an instant, ideas came flowing into my mind – From brainstorming an interesting concept to sell the crystals to writing stories about swarovsky crystals. I then sought advice from a friend who had experience in blog shops and he gave me the ugly truth.
Photo by emidaliacreaciones
Blogshops, as simple as they may sound, is no different from a normal business. You have to plan very carefully where you want to go with your blog shop or else it might close down once it reaches its market potential. When starting a blogshop, like any other business, its important that you come up with a business plan – using optimistic numbers with surgical precision. What is your product mix going to be like? High end? Mid end? Low end? How much are you going to have to sell to reach your target for the first month, second month and so forth.
After much consideration, I decided that I wouldn’t want to continue with the Swarovsky deal because after crunching down the numbers, I feel that I could be earning more money for the amount of time I put in to do it. It’s good to have ideas sometimes but its also important to see things realisticly and don’t think you are “Superman” who can handle 4-5 projects at one time. Don’t forget we only have 24 hours in a day. The best way to use it is to focus on one business at a time and once your business becomes automated you can move on to the next.
Also, you have to set REALISTIC goals for yourself. If your goal is to make $10,000 worth of passive income every month – How are you going to do it? Plan your steps carefully and focus on your goal every single day. Don’t just get into it for the sake of fun if you want to achieve real results. If you’re not serious about it, expect the results to be small.
To sum it up, DEFINE YOUR GOALS – PLAN YOUR STRATEGIES and then PICK YOUR BATTLES.
