Another mid level, local embroiderer/screenprinter/retail business, store front, went under in our area. The reason, as I understand it is: overhead too high, profit too low, to many employees, fighting low internet bids, and owners not in the stores when they should be.
They started as I have, from the home, and then to the flea market, and then to a store front.
Got more emb. machines, did heat press, promo products, ink jet printing, and had started DTG printing. Had a retail area as well.
They did well for a few years, then started hiring people to do the stuff they used to do, so they could take off and not work. The beginning of the end.
SO, is it true, that sometimes, bigger is not always better?
I'll think I'll stay small a little longer, and do what I'm able to do.
Re: Is bigger really better, all the time?
If the owner are not there all the time they better have a great manager. This goes
for any business.
YOU'RE FIRED!
Re: Is bigger really better, all the time?
Personally I learned a similar lesson the hard way... just because you are good at one thing does not mean you should keep adding this and that and the other.. at some point something is going to give. I love the idea of diversifying, and of having other revenue streams, but not if you clearly don't know what you are doing.
Modern Embroidery Designer
volant-tech.com
volantfineart.com
Re: Is bigger really better, all the time?
Yep, this is how a lot of big corporations get in trouble. They just like
to keep getting bigger and adding more divisions till they have no
idea of what they are doing. Then they want the government to
bail them out.
YOU'RE FIRED!
Re: Is bigger really better, all the time?
It doesn't matter the size, it depends on the committment. If you hire people it is to expand and grow, not to hire in order to take off. Great advice I got before starting my own business:No one will care more about your business than yourself. If your staff doesn't see the effort and the wanting to not invest your own time, why would they? You get out of something what you put into it...so learn from their mistake and if you have the opportunity to grow don't hold back because of someone else's lack of effort.