Mistake No1

In the beginning there was an idea, this idea spawned a plan, the plan grew and then there was action!
Well sort of.
Had the idea, got carried away with the possibilities and completely forgot about the plan.
So what did I do?

Dove in head first of course ( spontaneous and impulsive as always) and began buying product from suppliers I found searching the net.
Now as impulsive as I am, I also had my business head on and researched every single one of my suppliers to ensure they were legit and not passing off counterfeit or cheaply made products.
I would hate to calculate the hours I spent searching, researching and googling in the first few months of the business but I think that was the best investment I could have made as I have yet to have any issues with supplier non- deliveries or quality issues and also gained a pretty impressive database to boot.
Believe me I came across countless counterfeiters and scammers in the early months and it nearly put me off completely but the number of legitimate producers and manufacturers far out-weighed those less reputable companies but they are not easy to find.

"So what's so wrong with that", you ask.

Just this, I have an impressive database and inventory but a very small bank balance.


Without a definite plan and directional focus for your business you are just personal shopping!


And that is exactly what I did.

After adding myself to a number of business networking sites and seeing others pitfalls (after I started the business of-course) I do not feel so bad about making this particular mistake because it seems to be quite a common one.


I have a pretty good sense of what will sell and how much you can expect to sell it for and I did ok with some of my stock but I fell into the trap of having a lot of inventory and no outlet for sales.

See my next post on Mistake No 2 --it's a doosey....