Employee or Business Owner - Which are you?

Employee or Business Owner - Which are you?

Honestly, the vast majority of us fall somewhere in between, but there is a distinct difference. In our entrepreneurial society, many people want to own their own business, but do they truly have the mentality for it? If you do, you have that mentality whether you are working for yourself or working for someone else. I hear it said all the time, "it would be different if it were my own business." I doubt that.

Here are some classic traits of an Employee Mentality:

• I work for a paycheck - period.
• I do not give more than I have to, otherwise the company will take advantage of me.
• They are lucky to have me.
• They owe me because I work here; because they need me; because I'm better qualified; because, because, because, because, because...
• I only do what is in my job description.
• I only work the hours assigned. I will work overtime only when it suits me (and when I need the extra money).
• I do not like change. We've always done (or we tried that before) and there's no reason to change.

Now look at the traits of a Business Owner Mentality

• I work for the good of the business.
• I give everything I have in order to grow the company.
• I am lucky to have this opportunity.
• I only receive the benefits of my effort, if I want more I have to work for it.
• I do what is needed, regardless of my job description.
• I work the hours necessary to complete the task, even if the overtime is an inconvenience.
• I am open to change. I think outside the box and consider all options, whether we've tried it before or not, traditional or not, I am always looking to improve. 

Now, we all want and need our paycheck, and we are all working for that but for the employee, that is where it begins and ends. For the business owner, the money is the reward, not the substance. It is the end result of countless hours of effort, often uncompensated effort.

Do you already have a business or want to start one? Are you willing to do what it takes to grow your business? Great! 

Are you still working for someone else? Hone those skills where you are, because if you're going to start your own business, it's better to take those fully developed skills into your new venture rather than try and flex those weak muscles when you branch out on your own.

Never plan to have your own business? Have an "Owner" mentality anyway, you will be the most valued employee in the company. Rewards follow. 

Christmas Sales, when does it begin?

We're all frustrated with "Christmas Creep." You know, when we start seeing all things Christmas as early as September. It's just too much! Let's let each holiday stand on it's own so that we can enjoy it, rather than the pressure of Christmas buying choking out everything in between.

That said, Christmas is the bread and butter of everything retail. If you're in retail, you know that all too well. That's the reason for the "creep", to help get the most out of the sales and to lengthen the buying season. The wisdom of that can be debated, but the reality of spending quite a bit of time planning for the Christmas season cannot.

We want sales all year long and should have a yearly marketing plan that we can implement for each holiday that will culminate in the Christmas buying season. Christmas, however, will be your biggest season for sales and deserves the bulk of your attention. So when do you begin focusing on your Christmas sales? Ideally, December 26th of the year before. Yes, that means having a plan for Christmas all year long.

If you're a crafter, you need to start building your inventory by at least the beginning of August so that you have enough to last the season. We all have seasonal obligations, so scrambling to make product during this time is counter-productive to your business, and your mental health. It really can suck the joy out of your business. Having ready-made inventory and focusing on sales is your sweet-spot and where you want to be spending your time and energy.

Shipping Deadlines - If you sell online, you realize that this is important year-round, but during the holiday season you need to be especially mindful of those deadlines. This also shortens your holiday season. Unless you have a buyer who is willing to pay the exorbitant over-night rate (and most aren't), then your holiday sales will end about a week early, so be prepared to start those plans early as well.

Craft Shows - if you present at craft shows, those will start sometime in early October, with some shopping for themselves, decorative items, and of course early Christmas shoppers. Craft show attendees are generally dedicated handmade shoppers who understand the value of handcrafted items, so presentation and quality matter. The cost of table set up has drastically increased, so it is important to have sufficient inventory to recoup those costs and make a significant profit. Some of these shows run well past Thanksgiving, so you can hit the traditional buying season.

Brick & Mortar Retail - if you have items in traditional retail venues, the buying season is extended through December 24th for the truly "last minute" shoppers. While that does provide a few extra days, those sales are far less than the ones that begin with "Black Friday" through about mid-December. You'll want to have plenty of inventory to replenish stock throughout the season. Keeping your inventory fresh is key. Too much and there's no incentive to get it right away, too little and it's just not an attractive display.  Traditional retail marketing has it's own strategy, similar to craft show displays, which is decidedly different from online marketing.  The take-away is to be prepared to have enough stock to keep the display replenished throughout the season.

So when does Christmas begin? It begins now.