Building a Biz: Lessons Learned 3 Months Later...

Can you believe it's only been 3 months since Lather Creations was born as a business?  I sure can't, it really feels like longer to me.  So I'm taking some time to reflect back on what I hoped to achieve, what I have achieved and my future goals.

 To date, I've transformed 24 pieces of furniture.  I've sold 16 pieces in total, including 13 original pieces of my own and 3 client commissions.  I currently have 8 for sale.  Break that down to 4 sales a month, which is ahead of my initial goal of completing and selling 2-3 pieces per month.   Yes, I'm a bit of a 'goals geek', it helps me stay motivated!

Here's a little recap of the lessons I've learned and continue to learn as I go:

1. Know your worth - Everyone told me to make sure I priced accordingly, but it's hard in the beginning to believe you have something valuable to offer.  I've had to turn a few people away after a few lowball offers on my pieces and when you're first starting out - ouch that isn't easy! But I am slowly beginning to believe in myself.  My pieces are timeless and very well made.  I search high and low for quality pieces and this takes time.  This is what I have to offer when you buy one of my pieces.
2. It won't always be fun - Even though I love doing it, painting furniture isn't always fun.  Some days I don't want to go the extra mile and add coats of finish...but I always do.  I fundamentally enjoy it at the core and that's what I have to remember.  The little details?  That's why it's still called work!
3. Building takes time - I used to really feel the highs and lows.  I'd have no nibbles for weeks and think this was all a big mistake.  Then I would have a series of sales and I'd be on top of the world.  Luckily, I live with a VERY patient man who constantly reminds me to look back at the last few months, not the last few days.  It's so much more rewarding to see your successes as a whole rather than focusing on one short period of time.
4. Keep track of your customers - I'm lucky enough to work at an ad agency and this gives me a little bit of insight on research and marketing.  It's not huge, but I always send out a short email questionnaire to my buyers after they've purchased a piece.  I ask them to provide some info on who they are, their style and why they choose upcycled.  It helps me validate who I'm marketing to and better focus on the product traits that appeal to them.
5. Keep track period - No, I'm not the best at this but I'm working hard to make sure I document everything - from my supply costs to my days on the market to the age of my buyers.  Even if I'm gathering slowly, I know I will be able to use this information in infinite ways in the future.  and I'll be prepared to do so!  Plus the tax man can come get me if I don't...
6. Don't say yes to everything - I was approached by someone who had a lot of old furniture ans wanted to perhaps be a regular supplier to me.  I did buy some pieces and they're perfect for me.  But he also had homemade pieces that didn't quite fit my brand of vintage and antique furniture.  It can be hard to say no when the price is right but I have to remember I'm building a niche.  Store commissions are another area that I'm asked about , but if customers are happy and buying my goods now - why would I want to take on the risk in a shop of something not selling or getting worn or damaged?  It's hard not to get excited about opportunities but I've had to learn when to say no.

Every business is different, these are just some of the things I've learned along the way.  I have so much more to learn and I can't wait to look back in another three months.

For you biz ladies out there...what's been your biggest lesson learned?  I'd love to hear your wisdom!