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The craft of your business and business of your craft

January 24th, 2011 No comments

As an entrepreneur I talk with many that are in the same endeavor as I am: How to make a living at what I love to do?

And therein lies the issue that nearly all people with talent or an idea have difficulty with: Knowing the difference between the craft of your business from business of your craft.

Craft of your business. This is the genesis of your business, whether it is being a lawyer, doctor, writer, graphic artist, baker, chef, cook, programmer, TV personality, farmer, sculptor, painter, radio interviewer, any of other jobs that you can think of, or lastly, any of the Dirty Jobs that Mike Rowe has listed that people do that most of us never would have thought about. It is your talents and these skills that others are willing to pay you for and what the market will bear whether you make any money, make a living, or make millions.

What do I mean by what the market will bear? Well, once the car was introduced how many blacksmiths were needed to take care of all of the horse shoes that were needed? Or how about the buggy whips? Those people with those skills that helped the horse transportation industry changed into things related to the automobile industry, and so did the skills. Changes in the market means that your skills might no longer be needed. A good business owner keeps an eye on these changes and adjusts accordingly to where the market is going. Those that don’t watch the market, i.e. those that only see what they do as a job, will lose out. There are still blacksmiths and buggy whip makers, but not like there were a hundred or more years ago. New technologies have created new jobs and old ones are left behind.

Business of your craft. This part is where you have to figure out how to make more than just a living at what your craft is. It’s about making a profit from your sales, not just making sales. It’s about pricing, taxes, time, money, marketing, sales, effort, customers, accounting, customer service, vendors, contracts, government bureaucrats, suppliers, and a host of other issues that most people do not want to handle, they’d rather be doing what they love to do: Their craft. But, it’s something we all have to do. But there is help.

1. Study business concepts. You need to learn about these issues, and you do not have to be an expert at them either. Be forewarned: you NEED to understand these things, even at the concept level, because it is the basics of what is going on with your business.

2. Hire someone to do what you don’t love to do. Outsource these issues to others that LOVE to do what you don’t, like an bookkeeper or an accountant. This frees up your time and let’s others who love to do what you don’t a chance to get paid for what they love to do. But refer back to #1 above, you don’t want to be taken by embezzlers who “cook the books” for you and take your hard earned money.

That is why I wrote my book How to Start a Business: Mac Version to help those that love their craft to get the most out of the Mac with the business of their craft. That’s my craft.

So, love your craft, but learn how to make more than what a starving artist makes by learning about the business of your craft.

I leave you with a quote about how to view businesses:

‎”Some see private enterprise (business) as a predatory target to be shot; others as a cow to be milked; but few are those who see it as a sturdy horse pulling the plow.” — Thomas Jefferson

Entrepreneurs: Craft, Commercial, or a mixture

June 9th, 2010 2 comments

As an entrepreneur and startup junkie (I’m just starting) I always wondered how things get started.

When my wife and I were watching one of our favorite shows, Diners, Drive Ins and Dives, I’ve been struck at who started the restaurant and why. Which, by the way, is always scouting for new “meat” to do a few new shows. Most content providers are.

After watching it for a number of years I’ve come to the conclusion that most of the establishments that Guy Fieri showcases is an aspect that the McDonalds and Starbucks has not done and will never do. An entrepreneur has a decision to make:

Going craft, commercial, or a mixture of both.

What do I mean?

I’ll use the example of my wife’s quilting.

Quilting: Handmade, sewing machine made, or a mixture.

Handmade = Craft. First, when my wife has the time she loves to do handmade quilts. I guess it is no different than if I can have a wood shop in our garage. But she loves to quilting and loves the work and the appreciation from those that receive them. They are truly made with love and care. But if you were to sell them one of two perspectives would happen. First, she’d either get paid pennies per hour for her work, or she’d charge an arm and a leg, but even then she’d have to be a top notch quilter to get those prices. But most consider her work “priceless” and therefore won’t part with them for any amount of money.

Machine made = Commercial. Now machine made is broken down into two perspectives, large companies using sewing machines or the ladies using their own. The large companies that employ lots of workers to turn out quilts in volume so that everyone can get a quilt to throw on their bed for lower costs. Or, ladies use a sewing machine to get their quilt done quicker for function, a lower “quality.”

Diners et al.

So Fieri goes for the craft of the food business, the best of the craft of the food. Maybe not the best maybe health- or calorie-wise, but he does showcase the uniqueness of each small business compared with the Olive Gardens and McDonalds businesses. They’re the commercial food companies, with some having, maybe, some craft thrown in with their product.

So describe your business, are you going craft, commercial, or a little of both?

Categories: Entrepreneur Tags: , ,

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