Building and selling doghouses
Description:
Shane and his dad designed and built three sizes of doghouses (small, medium and large) which went up for sale at a local pet shop. The houses sold for $80 each, and Shane received $60 per purchase, using about $20 of that for future material. In comparison to other doghouses around, Shane’s was a far more superior product as he went beyond plywood, by using siding around the walls and cedar shingles for the roof. Shane was 13 years old when he began, and the business was successful, lasting about a year, before Shane decided he wanted to pursue another venue.
How I got the idea / found the employment:
At first, Shane just wanted to build his own dog a little home. So he and his dad drew up a design and got to work. After it was built, an aunt came by, saw the doghouse, and asked Shane to build one for her. That got Shane wondering. He pedaled to the pet store down the street and talked to the owner. The owner agreed to take a look at the doggie-den. Shane and his dad came back right away with the sample doghouse in the truck bed, and the manager agreed to sell the doghouses in his store.
Challenges I faced, and how I overcame them:
At first, Shane was selling houses only by consignment, at a small risk to himself, since he would have to wait for a sale to make any profit. But after about 5 months of consistently selling 4 to 6 doghouses a month, the owner agreed to start purchasing the doghouses directly from Shane, keeping some in stock at all times. This allowed Shane the necessary cash to start stockpiling precut material, so that doghouses were available right when demanded.
Another challenge was the difficulty and inconvenience of transportation. At 13 years of age, he had to rely on his dad to pick up materials and transport the doghouses to the pet store. This prevented Shane from expanding to other pet shops.
What I learned:
Shane learned that age doesn’t matter when opportunities arise. Initially the storekeeper was hesitant in presenting a 13 year olds’ product in his shop, which is why they agreed on consignment originally. But when the services proved good and he provided a consistently high quality product, Shane was successful.
Jewelry Maker
Description:
I custom made jewelry for people who requested some. People would choose a kind of jewelry, ranging from necklaces to bracelets, earring, and rings, and pick a color they would like. Sometimes a customer would request a certain style or be specific about what they wanted, but usually they wanted a surprise. In general, bracelets and earrings were $5, necklaces were $10 and earrings were $3. There was some variation in the prices, depending on people�s preferences, but those were pretty much the baseline prices.
How I got the idea / found the employment:
When I traveled to Brazil to visit my family one year my aunt was very into beading things. She made items ranging from bracelets, to rings, to dish towels, and more, and while there for a few months, I got really into it. By the time I left, I had acquired quite a supply of beads and beading supplies, and constantly made my own jewelry. Back home I had people constantly asking me where I purchased my jewelry, and most were all so impressed when I made it myself. After a few requests to make jewelry for people, I decided to make a little business out of it.
Challenges I faced, and how I overcame them:
The biggest challenge I came across was the advertising aspect that comes with owning this kind of service business. I was only fourteen when I started doing this, and going out and advertising was not something neither I, nor my parents, necessarily wanted to be doing. So I decided that the way my business would grow was through people. I made sure that when people purchased an item and they were happy about it, just to have them mention it to their friends. Most of my customers were friends, and then friends of those friends, and of those friends, and so on.
Another challenge I overcame was that people�s preferences were different than mine. Most did not specify exactly what kind of style or design of the article of jewelry they wanted, and I always had a lot of fear when I gave it to them that it would not be something they liked. To fix this I would ask people quite a few questions regarding they article, also, I was able to get some sort of impression about their personal sense of style, and their likes and dislikes
What I learned:
Most importantly, what I learned is that in a service-oriented business, customers will make or break the business. I started all of this in Oregon, and continued it on the side all through high school, but when I came away to BYU, there is no way to transport all my customers here. I did not even bring all the supplies I need here, in order to start over, which had not occurred to me until now. The business kind of fizzled out, because I am here, and my customers are there.
Also, entrepreneurial ventures are what I want to do with my life, career-wise, and this was an amazing taste of what I would be doing. I do not plan on starting a jewelry making business again, but have other ideas I would like to try.
Longboard Manufacturing
Description:
I build longboard decks and precision racing gear. I design the trucks and the decks that are used for longboard speedboards. I sit down and draw out the designs for them first on paper. Then I draw them out in a CAD program. Following that, I cut out the designs for the longboard speedboards, sand them down, and then paint them. The trucks, however, I have cut at a location on the East Coast (I just send them the designs) since I don’t have the machinery that’s capable of cutting them handy at the time being. As I make more money, I plan on purchasing the equipment for cutting the trucks in the future. When it comes to doing business, I sell the boards to people online and some locally. As far as advertising goes, it’s all just a “word-of-mouth” type situation. My customers will either get my email address or phone number from someone that I’ve already done business with before and contact me. I have specific designs and prices for them already made out but I will occasionally get requests for custom designs.
How I got the idea / found the employment:
I got the idea from taking a wood shop in Junior High. It was pretty simple. I started making a couple of longboards and realized that I could probably do this on a more professional level and possibly even sell them. It worked out pretty well and I soon had found something that I really enjoyed doing!
Challenges I faced, and how I overcame them:
One challenge that I have faced is upgrading. I had to switch the types of wood and glue—the longboards weren’t holding the shapes that I wanted them to originally. Another challenge was the fact that I had to go from a wood shop, where all of the equipment that I needed was available, to nothing. I had to slowly and little-by-little work my way up and earn enough money to buy the different things that I needed in order to continue making the longboards.
What I learned:
I learned that you have to have money to make money to a certain degree. If you invest a little bit of money and your time into something and keep investing the money that you make from it back into it you will be able to make your company bigger and bigger.
Making Love Sacs
Description:
I had the help of three others in making and selling love sacs. We would go to apartment complexes that had common areas and ask them if they would like to purchase a custom made love sac for their tenants to enjoy. We allowed them to pick the size of the love sac along with the fabric they liked best. We carried with us a bunch of swatches that they could pick out of. We would then have to buy the fabric that they wanted in bulk and then proceed to cut and sew it together according to the dimensions they wanted. We also gave them the option of having a liner made so that they could take the cover off and wash it when needed. We then had to give the liners and covers to a factory where they stuffed and delivered them.
How I got the idea / found the employment:
I was taking an entrepreneurial class that grouped me with three other individuals. We had to come up with a business that made money fast. We all got together and brainstormed different ideas. We considered making a lot of cheap things or making a few more expensive items. We considered what would sell well around the area we were living. We considered how much the typical person made around the area. We decided that we would make �Cloud Nine Cushions� and sell them cheaper than the original Love Sacs. People had a desire to own a love sac yet they did not have the money to purchase one. This enabled them to have one custom made for them for a great price.
Challenges I faced, and how I overcame them:
The main challenge that we faced was coming up with the original idea. We could not all agree on a single idea. We originally had five people in our group but we lost one of our members. Once it was down to four members we had a lot easier time deciding on a business. I would recommend either starting the business by oneself or keeping the group small. You can grow with time when you need it. Another challenge we faced was keeping everybody in the group involved. We didn�t exactly overcome them, so I recommend having a detailed description of what everybody�s job is in the business before the business starts. Each person should have their personal description and then sign it. This way everyone will know exactly what they are supposed to be doing and they will not have the excuse that they were confused. Another challenge we faced was that people did not want to buy something they had not seen. We decided to make a sample love sac that we could allow our customers to sit in and look at. They would then see that we took our business seriously. At the end of the company, we sold the sample love sac to someone for a discount. I recommend having a sample of what you are trying to sell with you.
What I learned:
I learned that it is not always easy working with others. It taught me to have patience. I learned that everyone needs to have the same goals when it comes to running a business. I learned that sometimes it is easier selling a few large items than selling a lot of little items. You do not need to find as many people interested in your product if you only sell a few large items. This experience was useful to me because it taught me how to work well with others. It taught me how the real business world works. Some benefits that I have seen from creating this business are an increase in patience and an increase in confidence. I realized that no matter what I did I was going to have to work with the other members in my group. I figured that it would be easier to run the business if we were all civil towards each other and we tried to view things how others see them. I also realized that if I can start my own business, I can do a lot of great things in this world.
Making TI calculator link cables
Description:
He and his brother manufactured link cables for TI calculators that were used to transfer files from a computer to one’s calculator. He did a lot of research, found plans, and was able to learn a lot about the internet in the process. He used his garage, a soldering iron and other tools to make the cables. He was a programmer, had his own website, and used that as the means to sell his product. On his website he had the contact information and an order form that people would fill out and mail it to him. His website sold the link cables for much less than the brand TI did, and people started ordering and he started making money. He had to learn how to manage the revenue he earned. He made an excel sheet to document the business’ progress. He would put the profit in his bank account. After his business was doing well, he even hired his little brother to make the cables while he took care of the rest. The rest would include dealing with unsatisfied customers. He had a no-questions-asked return policy, and he would return their money and pay their shipping. The reason he was successful was because he saw a need for something, used skills he already had (excel, programming, website knowledge, manufacturing, computers, etc), and made a go of it.
How I got the idea / found the employment:
This boy was a very smart boy who did not want to buy his own calculator cable, so he decided that naturally, the solution was to make his own. As this is a not-so-common mind set, he realized he could also sell them to other people who didn’t want to buy their own. He liked working with electronics and eventually figured out how to make his own cable. Because he was talented in area such as electronics, he was able to produce a product there was a demand for at a cheaper price, and was able to sell a lot of cables. He was very ingenious for his age (he was 14/15 years old, his brother was 13), and took advantage of his thirst for knowledge. This made it so he could produce something people would buy.
Challenges I faced, and how I overcame them:
He had to deal with challenges such as cables not working, angry customers, demands for fast turnaround time and shipping/returns, and not-so-efficient employees. His brother didn’t make the cable as fast as he wanted, which, in some ways, caused a lot of the unsatisfied customers. Money didn’t motivate and so he had to go back into the labor part of his business. He also was still in school and had to work around that, which also made time a factor. He had homework to do, friend and family to play with, and other activities he wanted to do besides make link cables. Balance was something he had to learn, especially since he was still a teenager. Business isn’t everything, no matter how much you want it to be. He also had to learn how to deal with customers in a way that won’t lose business. This is where his no-questions-asked return policy came in. It was an effective tool in minimizing the anger that would develop.
What I learned:
Probably the best thing he (and his brother) learned is that starting your own business is harder than it sounds, especially since you can’t control other people. He learned more about the internet and how it can be an effective tool for business, and also about money and time management. He increased his manufacturing skills, excel skills, people skills, management skills and over all how to set goals and achieve them.
Sign Making Company
Description:
Starr Sign is locally owned in the Anchorage, Alaska area by owner Ryan Starr. Starr Sign started out in 2002 focusing primarily on small vinyl lettering jobs, relying on word of mouth advertising. Since then Starr Sign has entered the 21st century expanding its capabilities to cover almost any signage need. Whether you are in need of promotional sports stickers, 200 yard signs, 20 foot banners, or simply a small decal for the back of your car or truck Starr Sign has the experience and capabilities to help get you what you're looking for.
In its 6 years in business Starr Sign has catered to all arenas of business whether it is government, tourism, political or personal. We have the knowledge of many of ever changing regulations and ordinances when it comes to putting signs up at your place of business or commercial vehicle.
For more information visit: http://www.starrsign.com/index.html
How I got the idea / found the employment:
When 16 years old Ryan thought he could come up with a more profitable job than working at the local grocery store as a bag boy. So he came up with the idea of starting his own sign business. He really enjoyed the idea of being his own boss and working how and when he wanted to.
He didn’t have too much money so he had to think of a business that he would be able to do without having to advertise too much. By having this specific business he would be able to rely on the associates and friends that he and his parents had. That was one of the main resources or advantages that he was able to exploit.
Challenges I faced, and how I overcame them:
One difficult challenge he faced was dealing with professional adults when he was only 16 years old. They were successful business men with a lot of experience and he was a 16 year old kid starting a small sign business in his garage. It took some time before he felt comfortable working around these type of people.
Another difficulty he had to deal with was the accounting aspect of a business. He had almost no training in such things and the only way for him to learn was to just dive in with the help and advice of his parents and learn as he went.
What I learned:
You can really make some good money if you have a good idea and are willing to invest some time and money on it. After setting up the business it’s all about catering to the needs of your clients. If you give them what they want then they are satisfied and will come back for more. If you do a sloppy job then you get a bad reputation and all those word-of-mouth referrals quit coming your way.
Ryan also learned how to track his money on his expenditures, taxes, and intake inside of his business.