After much introspection, I decided it was time to make some changes to my business model. This pertained mostly to the ecommerce businesses that I created over the past 3 years.
June was such a busy month for me. I planned to make the grand announcement on July 27th (which coincidentally is my oldest son’s 30th birthday). My goal is to have everything in place for the change in structure. I have already changed over to an LLC. I just need now for the business to grow, and while I realize that some things will take time, I don’t have years and years to wait. I’m ready now.
I’ve envisioned it.
I’m prepared for it.
It’s time to dive in.
Just one problem: it isn’t quite sustainable at this point. The economy has taken this nasty downturn, and I don’t see it changing in the next 2 years. Inflation is running rampant due to the excess money the government dumped into a troubled economy that was struggling due to the pandemic. Companies whose manufacturing had slowed down due to lack of workers (Covid hit some companies harder than others), suddenly had to produce more product which drove up the prices. Now fuel prices are about to drive up the costs of other commodities (like grain and meat).
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In the past, spending has often fluctuated depending on the economy, and when we grow closer to a presidential election year, things will generally go on an uptick. However, this is the first time that I have lived through a pandemic, so I’m not sure what to expect. My goal is to just push through with my plans and expect that it may take some time before things pick up to a point that I want it to pick up. Until then, I’m just going to keep going forward.
During the pandemic, it was all about pivoting your business to keep it going and growing. Now, it’s about change. Pivoting can only help so much. To pivot, you may offer another product. For example, those who created clothing items suddenly started selling masks during the pandemic. My change is much different. I’m moving from retail to wholesale. I’ve seen many businesses start to do both. I’ve been researching and seeking out manufacturing. Anything to create a product and process that is exclusively my own while keeping everything made in the USA.
Now to turn that change into an actual vision.
