Common Cents # 13 –
Starting a business
My family’s history is filled with family members starting
and running small businesses of many kinds. Since a large number of people
dream of owning their own business, but few people act on that dream or know
how to go about it, it seems appropriate that we consider that topic this week.
I have started a few businesses so I will tell you a little about what my
experience has been.
I had developed a real love for black and white photography
while in college and really enjoyed working in the darkroom. While I was
working in a camera store after college, I realized that owning a custom black
and white photo lab could be a real possibility. Many days at the camera store
I would take a camera off of the shelf and shoot a roll of film or two around
the store. I would use different cameras, some new, some antique, different
formats, and different types of film. Each evening I would develop the film,
experimenting with different developers, temperatures, times, and various
techniques. Along the way, along with experience, I began to accumulate some
cash and equipment.
I thought of this recently when I came across all of those
negatives, carefully labeled with date, camera, exposures, and the developer
that was used.
Within a relatively short time, I began to realize that I
had as much darkroom experience and knowledge of black and white film as just
about anybody on the planet. That is when I started telling people that I was
going to open a custom black and white lab. The response was sufficient, and I
was able to leave the camera store and do film processing and printing full
time. My wife joined the company, and Mathis Photo was a profitable business
from 1973 until 1996. We only sold the
company when we saw the digital age coming and the end of film processing in
that volume on the horizon.
The basic idea then starts with a passion, or the spark that
could become a passion. Included in that is a service or product that has been
proven as needed, one that people are willing to pay someone else to do for
them. The next step is to become an expert. It is unlikely that there was
anyone with more experience with black and white film than I had. We also held
excellent customer service and care as a very high priority.
Years later, I studied the coffee industry, coffeehouses,
and how to build a caring community for more than a year before I opened a
coffeehouse, a “Third Place” for people to congregate and spend time while
having excellent food and great coffee. It is vital to be well grounded
financially with a clear understanding of what the endeavor will require to
stay solvent. Avoid debt like the plague, of course now we know that people
aren’t very good at avoiding the plague. Create a business plan, then step out
and do it.
No comments:
Post a Comment