How do I start a business?

C

cat_x29

Joined
Apr 24, 1999
Messages
18
My name is James, I'm a custom Knife-Artist. I make function and strength my biggest concern when I design. I'm a certified welder, and that realy helps when creating. I can build anything that the imagination can think up, and a few no-one has ever imagined. I have a shop here at my house and I want to go into business for myself. I love computers and I'm sure that there is a big market out there. I have no idea where to begin, someone help me.
 
First start showing pictures of your knives and putting them up for sale on the internet.Then start going to every gun and knife show in the area then all major knife shows that you can.You might want to advertise in Blade magazine and Knives Illustrated and Tactical knives...Now I hope you have a bunch of money to live on for a couple of years while you are building your reputation and gong to shows...If not don't quit the day job untill you have at steady stream of orders coming in and you are already a year behind...Other wise you will go crazy trying to figure out how to advertise and do shows with no money from knife sales that are not already spent on bills:D
Bruce
 
Bruce has it right and the only thing I can add is either take a bookkeeping course or hire someone to do it for you - Don't just buy a piece of software and think that's all there is.
This is really the voice of experience talking - not only have I successfully run my own business for the last 10 years (3, years part tiem, 5 years almost full time, and the last 2 years full time) but I have been a fullcharge bookkeeper for many small businesses for 17 years.
The number one cause of failure (about 90% of businesses in the 1st year is the national average) is not having a handle on your income vs expenses. Do it right to start out with and it will make a big difference.
The other thing is research your market and develop a marketing plan that will work for you. Just putting up a website and sitting back thinking people will show up won't cut it - you've still got a let them know you're there.

Anyway my 2 cents worth
Chuck
 
Got good advice here on all of it. Especially the bookkeeping. I know I wouldn't have a chance on any of my little ventures without good bookkeeping. A good piece of software, while not solving the problem, does make things easier when you do know the bookkeeping. My personal choice is Quicken Deluxe. I have accounts setup for knifemaking, all my various checking and credit cards, computer contracting, and even everything in their home inventory program. It's well worth the money.

But definitely take the course so you can understand it all. 6 hours of accounting courses help me, but real bookkeeping makes the difference.
 
What Bruce & Chuck said. It will not happen
over nite. You have to be willing to give up
alot for a spell. But hey what do I know I`m
just a knifemaker??? an a grumpy one at that
:grumpy:
 
Go on the ABS website, look under bookstore, and pick up Jerry Fisk's handbook on managing a custom knife business.

JD
 
I am not a business I have a day job.

However I like to keep my prices as high as posible for the sake of the professional makers.(and Me) When I used to go to shows I would ask one of the professionals to set my prices for me. They were always higher than I thought I could get. That is just confidence. If your not going to get the correct price for your knife. Keep it or give it away at xmas. Don't fall into the trap of undercuting the next guy.

The customer is buying more than a piece of steal, its a piece of your life and sole he has just walked off with. Keep the price high if they want a cheap knife let them go to the supermarket. If they want quality they can pay you for it.

The other accounting will help you see just how the overheads add up and why you need to charge as much as you will. Don't be discouraged you are obviously on the right track asking advise and research is a great start. Good luck
 
FWIW, even though I'm just getting started, for ev ery blade I make(and I do this part time after full time school and full time job, so very low producction, which makes this possible), I keep detailed accounting, as close as possible, of all costs related with blade(8" O1, 2" off of micarta piece, etc), and costs of shipping, everything, so I can see where my money is going out and coming back in, etc. Keep this in seperate notebook, with less detailed incoming and outgoing budget stuff on computer program.

Helps a lot in finding places to cut csosts, where to up prices, etc etc etc.
 
I started makng knives because I had to, it was in my blood. At first I gave them to friends and relatives. Pretty soon everyone I knew had a knife and they would hide form me on the street cause they didn't want another knife. The knives were crowding me out of house and home,I had to start selling them cause I didn't have any place to keep them.

I don't figure it is a business, it is a way of life. I am not a bookkeeper and would quit if I had to. My bride does the books, keeps track of the numbers and I simply make knives. If you do what you like, and you take the time to get good at it, it is like training a horse or dog, it will work for you.

First comes the product then get your name out there and keep it out there. Advertising is most important, but you got to have something to advertise.
 
Ed's right - good craftsmanship of any kind is a way of life(wish I didn't have to keep books but it's a necessary evil in my case).
The quality of your product really must be there. Word of mouth is actaully the best advertising, but no matter waht you do you've got a back it up with quality.

Chuck
 
Definately Book keeping.I am the worlds worst about that..
The quality of your knives is a definate have to have if you are going to do any kind of knife making.
Bruce
 
Keeping books really isn't that big a deal once you get into the habit of it. Find someone to help you set up a spreadsheet and you'll find it's pretty easy.

Hey Bruce, who's that FOX in your avatar?? :D :p
 
Peter that is none other than my very own album "10" girl herself...Donna thinks that is a cool nickname...To bad I am going to have to start album 11 soon,But I think the 10 girl will stay as her nickname:D
Donna says thanks for the compliment also.;)
Bruce
 
along with that and the other points made, you need to have a WOW factor. when they see it and pick it up it needs to come alive in there hand.
 
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