So many of you know that I also run a small business on the side. www.TheCouponBinder.com. There I make and sell coupon binder kits. When I started this business I thought, "How hard can it be?" Well let me tell you, starting a business is HARD. It doesn't matter how big it is, there is a lot that goes into it.
So now I am at a cross-road. Should I keep it going or fold it? DH and I were doing the numbers and found that I am only clearing my materials costs. I am not even making enough money to pay for my web page and online store. This means that I am paying my money and spending a ton of time putting together binders for other people - not cool. The one question I have is, "How is my competition doing it?"
This has also spawned in me a new appreciation for people who can actually make a business work. Wow, it takes a ton of courage and know how, and a lot of savviness. If you know a small business owner, you should tell them congratulations for making it work.
**Did you know that statisitcally only 1 in 10 start up businesses succeed?