Throughout this series I’ve been looking into starting an online business. This quick post looks into what success means for me in this experiment.
Success can mean a variety of things to different people. It could mean being able to survive solely on the business, it could mean being in the top 5 companies for a particular product search on Google… or it could be just surviving the first year of business.
In the case of iLoveShirt (and in the context of this experiment) success will be measured against the following goals:
Still being in business after 1 year
Having a positive bank balance (any profit would be seen as a bonus)
Being personally happy with the past year and wanting to continue trading for another year. This is perhaps the most important goal to me)
>80% customer satisfaction. This is not to say I won’t strive for 100% but in life there are just some people that are never happy.
Of course, returning to the fact that this is an experiment, I shan’t (hopefully) be too unhinged by any failings that occur in the year’s trading. That is as long as the business learns from these events even if they are not bought on by something in our control. There is always room to mitigate any damages.
With these goals in mind and a lot more thoughts running through my head it’s time to turn my attention to the business plan. Perhaps this should have been completed sooner rather than later… but as long as it’s looked at then better late than never. This business plan should make up the next post in the series and perhaps will be a lengthy one.
So we’re starting a new business as an experiment… what next? Well we need an idea; we need to have at least a basic idea of what the business will provide. Will it be a service or a product?
Well I’ve always liked comical T-Shirts (at least I think they’re funny) and in the past I’ve scrawled down some ideas for designs of my own in my old beaten moleskine… so this is gonna be my domain. I realise that these online T-Shirt shops are ten-a-penny but at the moment I don’t actually think this’ll be too much of an issue… I’ll go into this in more detail later on.
Oh, once again I should make it clear that when I say “I don’t actually think this’ll be too much of an issue” that this is exactly what I mean… this is only my current thinking and I may be wrong… very wonrg. This, being an experiment, is however not really a bad thing.
What’s in a name?
Ok, so we know now that we’re going to design and sell T-Shirts… what’s next? Well we need a name. And one that will also be our domain name as we’re are talking about an online business (actually this would probably be needed even it wasn’t going to be purely an online business). Ideally this name will contain a useful keyword to aid decent search engine results and also shouldn’t be too long so is easy to type. A .co.uk name should be fine for starters I think.
I have investigated a few names that I liked and to no surprise most of these were taken aleady. I have also decided to drop the “t” from T-shirt as this would reduce scope for confusion with a “hyphen/no hypen” query. In the end I have settled for iloveshirt.co.uk as a play on words from the “Anchoran, The Legend of Ron Burgundy” (one of my fave films ever) quote “I Love Lamp”.
With the domain secured we’re ready to move on. In this instance I’m not registering a company but instead am hoping to use an existing company I have and have a “trading name” (I need to confirm that this’ll be fine… but I’m sure it is). This approach saved a few pennies surrounding the setting up of a business tasks. I imagine that this has saved ~£200/£300 .
Right, that’s it for now… back next time with some info on where I want the business to get to.
So with the launch of the new colour-scheme over on Gingerbread Design main site it was time to get some new business cards printed up. Having read only good things about Moo.com I decided to give them a shot… and boy was I pleased with their service and products!
Following getting the first batch through in the post I was disappointed to see that the ‘front’ had a black background instead of the white I was expecting. I mailed the Moo customer service suggesting that perhaps this was due to my use of transparent png images. They promptly replied stating that ‘yes’ they use a default black background colour. They also offered me a discount code enabling me to get a second order for free (inc P&P) and that once I’d placed it they’d check to make sure that they looked OK.
Once I’d replaced my order I did contact them giving my order number and got a reply back from their CS saying that all was good with my new cards… what great customer service!
I would definitely recommend Moo to anyone who needs this kind of printing to be done… just brilliant!
Oh… there’s a useful page here with a template image that can be used.
So how difficult is it to set up an online business? What steps need to be taken and how can it be made successful? What can be done to make it all easier and what mistakes can be made (and hopefully how can we avoid them)?
But first of all why would you (or I) want to do this? Well it could be for any number of reasons really but for me it’s primarily an experiment… I am actually just curious.
I should say at this point that this series of posts is not a “how-to” guide in starting an online shop/business it’s more of a “docu-soap” into my attempt at doing so. I don’t have all the answer and I’m certainly not (at least not yet) an expert in this area. But what I do hope to provide is an account of how I went about it, what decisions I made and why and ultimately how successful or unsuccessful I was.
Hopefully the outcome will be helpful to some and what’s more at least slightly entertaining. OK, thinking hat on… here we go!