Buying quality Assets and generating Capital for your business, A personal experience of why this is important.
Hello Hive.
I asked a furniture man to make some stools and a working table for me and this is what I got. While I had wanted nag and complain about its quality, I decided against that but to warn us of the necessity of buying quality assets for our business. A subsequent blog of the diy process will contain why I got this quality of working tools I see as a gadgets.
It has been awhile I came around the community. My visions of getting my fashion business started witnessed some major setback in different forms, from health challenge, finance and the economic situations in the country but hope is alive and as long as we are breathing there is always a privileged to start all over again or continue a course from where ever we have paused. Besides every successful business has its own startup challenges and mine is no different
To continue from where I have stopped, I hope that we understand the benefits of buying or making quality Assets for our business.
Every business needs an office, working tools and gadgets, the difference in these things lies in the kind of job or services we are hoping to render.
And for a fashion designer
I need my
sewing machines, weaving machines, designing and embroidery machines, tables and stools, mannequins,
Pressing irons and a number of them.
It won't be nice to forget the power of starting small, Hence am looking at getting the basic things first.
I have bought an Industrial sewing machine
A zigzag and bottom hole machine.
A manual machine
And today I got some tables and chairs courtesy of @terganftp.
It is good for us to understand that it takes a lot of time to build.
And if you are waiting to get all the assets you need before you venture into an entrepreneurship business you may probably wait for ever.
Get the first things you need first and after starting, take all the first profits coming in to buy more asset, continue to build until you have reached a maximum level of fulfilment before you can sit to enjoy the dividend of the business
Buying quality asset is of essence if you don't want to spend more money replacing one particular item.
For instance If I want to buy a machine and while trying to manage cost went ahead to purchase one of lesser quality.
It may not last me a year or two before signs of damage and crash surfaces.
The money spent on repairs doubles up until one spends more than necessary, this actions already sets a business at a loss even before it gets started .
On a side note sourcing for funds for your business can come from different means.
When you are not financially ready start up, you can look up for the various means you can use to generate capital for yourself.
For me I took up a sales rep job that pays about $30 and had the privileged to have worked for 2months before I got laid off this week.
That is yet another challenge of working under bosses.
There should be no rush and unnecessary pressure.
Pushing yourself so hard only makes your vision harder and difficult.
Take your time
Remembering that it is how well you are progressing and not how far you are going in the shortest possible time.
I truly appreciate even the snail progress am making and if you are in a challenging spot like myself please be encouraged.
Entrepreneurship is not as juicy as people think.
And if it is possible for you to get a job while running your own business, that is truly another added advantage.
You can use the funds from your job to finance your business.
My proposed business shall be made in two phases.
One aspect where I could design clothes/outfits
Another aspects where i will stock and sell fabrics.
Combining related business into one is also beneficial like I have shown above with my own example.
On a final note, I am glad that am on the table again to continue from where I have stopped and am grateful for all the support in kind and everyday.
So many encouraging words from hive keeps me going and I do not take it for granted.
There is alot we can learn from each other as entrepreneurs.