Are you a business wannabe?
You know what a wannabe is, right?
It’s someone who pretends they belong to a certain group, but don’t. According to the State Board of Equalization, if you aren’t earning a profit you are operating a hobby, not a business.
A wannabe is also someone who imitates the stars of a group but hasn’t found his own style and brand.
If you’re not sure whether or not you are a business wannabe, here’s a short checklist.
A wannabe does not have
* a business name
* a business card
* a business license
* a seller’s permit
* a website
* a way to accept credit card payments
Some of you are probably chuckling and feeling quite confident that you do not fall into the wannabe category.
But let’s look a little deeper at some other telltale signs of a business wannabe.
A business wannabe also does not
* network in-person or online regularly to build business relationships
* have a business plan
* have a target market
* promote business regularly to her target market
* stay in touch with current clients
* keep current on trends in the industry
* have a distinctive style or niche
* earn profits
I don’t hear as much chuckling as before.
But don’t despair if you found yourself gasping as you read the points in the second set of wannabe traits.
If you just want to dabble in the gift basket business making a few designs here and there for friends and maybe selling some on occasion, that’s okay. Just remember that as a hobbyist the State Board of Equalization won’t allow you to purchase wholesale, and you will jeopardize your chances of getting into trade shows since you won’t have a permit or license.
If you entered the business rather timidly, but are ready to leave your wannabe days behind, it’s easy enough to get serious about your business.
Look back at the things that wannabes do not have, and make sure you have those things in place.
One thing that helps many successful gift basket retailers become and remain profitable is finding an underserved niche and serving it. That’s what Susan Seaman, of Glyndon, MD did when she decided to open a regional gift basket shop offering all Maryland-themed products.
If you think that her business is therefore limited to customers in only one state you are wrong.
From her shop, Black Eyed Susan Coffee, Candy, Cream & More, Seaman ships her Maryland themes to 42 of the 50 states, and expects to soon be present in the remaining eight.
Seaman began as a home-based business six years ago, but with her success decided to move to a retail location where she now also supports local artists and the local community.
How about you? You may not be ready to move to a retail location, but you can become profitable from home if you have put in place the things on the lists above.
You also can get ideas and encouragement in running your business by networking with others in the industry. To help you do that, I have set up a new Facebook page that will share information and answer your questions. Go there now at www.facebook.com/giftbasketclass and click the Like button at the top of the page. Then explore around to enjoy the photos, videos and other information. Be sure to leave me a comment.
