How I Left My Job And Began A Stationery Business

I used to be awake in bed…again, running through my morning to-do list and stressing about work deadlines. My restlessness caused my husband to show over and mumble, “You are not the identical person you was once.” I desired to scream at him for not comforting me, but at that pivotal moment, I spotted he was right. It was time for a change, and that is how I got inspired to start out a marriage stationery business and eventually do something that I like.

How I by accident launched my wedding invitation business

Being a newlywed, the chaos of wedding planning was still fresh on my mind. I DIY’d most of the decorative elements of our wedding to lower your expenses.

I had done graphic design previously as a hobby, so one in every of the DIY projects I enjoyed probably the most was designing my very own invitations and stationery.

Little did I do know, I had done early market viability testing for my wedding stationery business! Our guests were so impressed that I had made these invitations with my very own hands that I got requests from friends to create more for his or her weddings.

Similar to that, I got my first few “clients,” and my first bonafide business was born.

How I transitioned into my stationery business

My custom wedding invitation business began off as a side-hustle. I spent my days working at my corporate job. I answered business emails within the evenings and spent nights sourcing suppliers, learning the best way to use printing equipment, and refining my design skills.

After a 12 months of moonlighting as a graphic designer, it became hard to juggle my wedding projects’ demands and my job. Listed below are the important thing steps I took to transition into full-time entrepreneurship:

1. Going from a full-time to a part-time worker at my day job

To concentrate on my wedding stationery business, I negotiated with my work to scale back my working hours from 5 days to three days per week. I used to be honest about my personal situation with my boss and had already demonstrated solid performance within the workplace.

As well as, I needed to take a pay cut, however it was value it. I ended up gaining 2 full days per week to concentrate on my business guilt-free.

2. Determining my business budget

My accounting background got here in handy at this stage. I knew it was crucial to have a financial projection and a business budget to construct a successful business.

So I created a spreadsheet to estimate my income and expenses for the following 2 years. This acted as a blueprint as I worked on growing my wedding invitation business.

3. Saving up money to speculate in my business

I reduce on personal spending like shopping, entertainment, and eating out and as a substitute began saving more of my money for my wedding stationery business.

Step by step, I adjusted my mindset to consider it as redirecting spending towards my business like an “investment” as a substitute of splurging on luxuries that provided no future return.

I set a goal to avoid wasting 6 months’ value of estimated business operating expenses to have a buffer. Also, thankfully my husband continued to work at his corporate job.

4. Spending money to make MORE money

Early on, I met clients at coffee shops with a binder filled with paper swatches and samples. Going forward, I desired to look more skilled.

Sometimes it’s true you will have to spend money to earn a living. So, I made a decision to rent a small, 200 sq ft. office space to display my work and meet clients in a non-public yet comfortable setting.

Signing a lease felt terrifying, but once I displayed an actual business address on my website, I gained fast credibility over my online-only competition.

In the marriage industry, clients value face-to-face interaction, so this decision took my business to the following level.

5. Quitting my six-figure job!

Six months after going part-time at my day job, I mustered the heart to finally quit and exit the rat race. I had booked up a solid roster of clients for the upcoming busy wedding season, so I knew there was enough income to hold me through the tip of the 12 months.

Ultimately, the one way I could provide my best work was to focus 100% of my efforts on serving my clients.

What it’s like running a stationery business

It was tough explaining my life decisions to people after discovering I quit a six-figure job to enterprise out by myself.

In truth, I didn’t even tell my family for an entire 12 months because I used to be afraid of coping with their skepticism and warnings about how I’d take a profession hit if things didn’t work out.

As a substitute, I became friends with fellow wedding vendors that I met through my clients and at trade shows. This networking technique brought collaboration opportunities for creatively styled photoshoots.

My best work got published in high-profile wedding blogs and magazines that boosted my credentials and generated more business.

Two years to 6 figures in business revenue

After my second 12 months of running my invitation business full time, I finally cracked the six-figure revenue mark. On the surface, that milestone felt like a fairytale, however it didn’t come without sacrifice and late nights!

Once my business became profitable, I began to take a structured approach to pay myself first. I exploit a modified method from the book “Profit First” by Mike Michalowicz to administer my money flow.

It involves allocating a percentage of all my money receipts into different “buckets” like paying myself, operating expenses, taxes, paying freelancers, or reinvesting into the business.

Methods to start a stationery business

So, that is how I quit my six-figure job and commenced a stationery business. In the event you think it is a business you desire to to adventure into, here’s the best way to start a stationery business.

1. Construct a marketing strategy

When starting a business from scratch, one in every of the primary things to do is construct a marketing strategy. Your plan should include your start-up costs, operations strategy, marketing plan, and competitor evaluation.

This may also include selecting and registering your business name, identifying your target market, ongoing costs, and pricing your products.

2. Define your brand

The following step in the best way to start a stationery business is defining your brand. Whenever you brand what you are promoting, it defines what makes you different out of your competition. For example, Chanel is a brand that is understood for its luxury items and classic designs. Your brand influences how your clients view what you are promoting.

3. Legalize your stationery business

It’s essential that you simply make sure you legalize your invitation business. Establishing what you are promoting as a legal entity protects your personal assets. Principally, if for any reason someone were to file a lawsuit, it will be against the business and never you personally.

The different types of business structures are Limited Liability Company, Sole Proprietorship, a Partnership, or a Corporation. Probably the most common structures small businesses start with are either a Sole Proprietorship or an L.L.C. Research the various business structures to work out what’s best for what you are promoting plan and goals.

4. Put money into equipment and software

Whether you choose to specifically have a marriage invitation business or enterprise out to other forms of designs, you will have to speculate in the precise equipment and design software. Some items you will have to start are:

1. A high-quality printer
2. Design software comparable to Adobe Creative Cloud
3. A creasing machine
4. A high quality paper cutter

In the event you don’t need to print the stationery yourself, you could find an area print shop or use sites comparable to printed.com. This will prevent money on ink, paper, and wear and tear in your printer too.

A part of learning the best way to start a stationery business is determining probably the most cost-efficient approach to operate it. So attempt to research one of the best option for you and what you are promoting.

5. Sell online and in-person

To essentially construct up what you are promoting, it is best to sell online and in person. For example, you may arrange an internet site to succeed in a much bigger clientele online and in addition arrange at arts and crafts festivals and markets. That is a fantastic approach to start what you are promoting without leasing an area straight away.

Also, network with friends, family, and colleagues to get the word out about your latest business adventure! They are going to likely spread the word for you or possibly even purchase a few of your products to make it easier to launch your latest stationery business!

Start your individual stationery business

Aspiring entrepreneurs are sometimes glamorized by social media posts as someone with their laptop on a beach or jet-setting to exotic locations. Contrary to popular belief, most success stories don’t occur overnight. Nonetheless, with determination and labor, you’ll be able to start your individual stationery business.

In point of fact, entrepreneurship is a journey that always feels lonely. Being around like-minded people is significant. Find fellow business owners in your network or mastermind groups who can relate to your struggles and lifestyle. They’ll motivate you and keep you accountable to your goals.

Entrepreneurship is the trail less traveled. Get used to the sensation of continually swimming upstream, and be motivated by the chance that when you finally achieve success, it’ll all be value it! You will prove to the skeptics that it’s absolutely possible to make a living doing what you like! Start with our free business course!