I am business dumb, but I have a very unique mix of skills I would like to turn into a side hustle. Needless to say, there is going to be a huge learning curve for me.
Sure, I could just sell 3D prints on Etsy, but I would rather focus on B2B type work with a more hands on approach than the Chinese print farms/PCB manufacturers. (I’ll start an Etsy shop for practice, but that particular market seems extremely saturated.)
So, if you have started a business before, what are some basic things that you wish someone had told you before you did? Are there good books or other references I could use?
The amount of time and money spent doing all the starting and running a buisness crap that has nothing to do with the actual work is staggering. I started my own LLC in an industry where I am considered an expert, and it was a complete failure in less then three years.
I had clients, I had projects, but was so overwhelmed with all the buisness elements I just couldn’t spend the time required to get the work done properly. On top of that, while the money was good, the clients were often late paying, so all sorts of fees piled up and quickly ate into the profit. In the end I realized to do it right would have required at minimum four full time people.
Ended up taking a job with a large company as their in house specialist and I’m so much happier. I work shorter hours, get a regular salary with benifits, and spend my time doing the technical stuff I like.
Not saying don’t do it, just be aware of everything that goes into it beyond the core elements of the work / product.