How I Became A Small Business Owner

If you've started to think about starting your own business and becoming your own boss, you've come to the right place.

Keep reading to find out useful information along with some tips and tricks that worked for me.

Before you initiate anything, you need to ask yourself a couple of question:

Why are you starting a business?

This is where you can really think about where your passions lie, if you answered this question with ‘to make money’. Maybe dig a little deeper because starting a business is not just about the money, to me the money is an added benefit. The real joy is when your customers truly tell you that your product/service is incredible and give you feedback on how much they love it. At the end of the day that’s what’s going to make you successful and happy.

What are you selling?

Think about a product/service that is unique. How is your product different to what’s already in the market? You need to find your ‘pickle’, as Bob Farrell would say.

Watch this video to gain insight on how you could get that unique competitive advantage over your competitors - https://www.youtube.com/watch?v=ISJ1V8vBiiI

Who will buy it?

It's best to have a target market from the beginning, you need to find your niche. For example – My niche was petite girls. Growing up in Sri Lanka I always struggled to find clothes that fit me or suited my style/aesthetic. My main goal for Koko’s Apparel was to cater to an audience that faced the same issues I did.

Are you willing to be resilient?

You are going to have setbacks and major criticism from people. What’s important is to hold your head high up and never give up, always seek to improve yourself and your brand. That is the only way you’ll get better at what you’re doing.

Now to my favourite part:

The Process

The designs that you see throughout the brand are all of my designs that I have been dreaming about coming into life for years. All my collections so far are themed. I wanted to add a touch of vintage styling into everything I create for Koko’s Apparel, you can see this through my designs.

How I pick the material

All Products are sourced by Sri Lankan retailers. I firmly believe in supporting local retailers and by purchasing all the raw materials from Sri Lanka, I get the opportunity to support my community.

The material is picked by me - through a series of sampling. There’s a lot of behind the scenes that take place in order for us to create a collection. It takes months of trial and error, experimenting in order to bring the designs to life. My advice to you is - Research! Research! Research!

Who assembles the clothes?

I have outsourced the actual stitching of the clothes as I am not qualified in sewing. I do have great insight as to what needs to be done, this has helped me gain hands on experience in the assembly line. My advice to you is that you need to be present throughout every stage in order for you to create a high-quality product/service. If you don't like something change it until you are satisfies, don't settle for anything less.

Funding

If you are aspiring to be a small entrepreneur, your budget is crucial. Unlike the big sharks in the industry you won’t have a lot of capital to spend so therefore every move you make should be carefully calculated and lead you to the next step.

I funded Koko’s Apparel by myself. Your question for me right now is probably, how did she do it?

Koko’s has been in the making for about a year in my head before I actually started it. At the time, I was studying in New Zealand and had the opportunity of working 20 hours a week, I was determined to make it on my own and have something to call mine.

I saved up for a year in order to fund Koko’s. It wasn’t easy but it was possible. When I first started out, there were so many things I wanted to do for the brand but I couldn’t because of funding, but as I’ve started to profit from the business I am slowly improving things – Like packaging, quality, marketing etc.

Get Help - Don't be afraid to ask for help!

Sometimes, you can’t do it all by yourself. Behind the scenes of Koko’s there are a lot of people involved. If you have friends that know more about starting a business, ask them questions, ask for help because the truth is that they have been there before and made many of the mistakes that are common among new business owners, this will enable you to avoid them.

Talking to other entrepreneurs will also inspire you, and they could even introduce you to new opportunities.

Finding a mentor to help you through the crucial stages of your business will take a heavy lift off your shoulders and if you can’t find a mentor – it’s okay. Simply go online and read stories of other entrepreneurs and how they made it.

Lastly but not least, I intend on writing another blog post on the marketing aspect and how to get your product out there, stay tuned for the next post! Follow me on my social media platforms in order to be notified when my next blog post is out!