What to keep in mind when starting a business

Have you ever had that moment of realization that something isn’t done how it should be done? Every new business starts with the thought, there has to be a better way… That is exactly how Embracelet was founded. We are here to let you know how to turn your entrepreneurial hopes into reality.

Starting a business can seem intimidating, especially when you start all the way from scratch. However, a determined mindset, innovative spirit and some tips from your predecessors is the recipe to success. Our Embracelet team started to work together in September 2020. We all had one thing in common. We wanted to find the gap in the market that would spark our ideas.

Be confident about your ideas

Working with a group of different people, all with their own ideas and perceptions, can be challenging. That showed during the Embracelet brainstorm meetings, were the ideas went from self-cleaning water bottles to desk feet hammocks to comfort your feet. The best advice to give you during this idea generation phase, is to find something you are passionate about and present it with sincere enthusiasm. Enthusiasm works infectious. Whether you want to convince your team members, investors or customers; if you are really confident with your idea, the rest of the people will follow.

Don’t let the costs scare you

Don’t let the high costs of starting a business intimidate you. Most businesses actually use money from others to fund their activities. We of Embracelet all pitched ideas to friends, family, colleagues and other acquaintances. And they don’t just invest because you’re a nice person, but because there is something in it for them as well. Emphasize that and act on their self-interest. Most companies offer their stakeholders an attractive percentage of the profit they make.

Be openminded for alternatives

After weeks of brainstorming and discussion, we decided that we wanted to create a way to be sustainable and fashionable. That is how the idea sparked to import bracelets made from ghost nets. When trying to realize this idea, it appeared it was near impossible to get our hands on affordable ghost nets, unless we wanted to dive into the oceans to collect it ourselves. Stubbornly sticking to an idea will cost a lot of valuable time. When looking how to realize your idea’s, have an open mind for alternatives so you have a back up plan when the time is running out. Embracelet eventually went for a material that was much more accessible and just as sustainable; rPET cord. This material is made from recycled plastic bottles. By reusing these bottles, we prevent them from polluting the ocean.

Don’t just sell within your personal network

When we finally received our product, we couldn’t wait to start selling. During the first week we almost sold out our entire batch so we decided to order more as soon as possible. When doing so, we learned that the second batch will probably be harder to sell. Your personal network will be the first to buy your products. However, once they have purchased from you, you’ll need to look out of your own network to keep your sales going. Social media is your best friend during this stage. Build a network of followers trough regular posts, host give always and collaborate with other businesses. This is where you will get to opportunity to boost your sales and make profit.

Taking the plunge and making a start will be easier now you know our experience and tips. We can’t wait to see your idea’s becoming reality and love to hear your experiences!