My daughter has opened up her online business. I invested the initial capital to get her going - which was not cheap, but nothing outrageous. She has a flair for presentation and photography and put together her online shop with artistic perfection.
Then she waited.
At first there were no orders and she was getting discouraged. Now she's bombarded and she can't keep up. She quickly realized that it's more than just putting together her product to running a business. She has to track her inventory, the expenses for the inventory, the cost of producing the product, the cost of shipping, and....at the end of it all what is the net profit?
It did not take her long to figure out that she's working extremely hard for basically nothing and she has to raise her prices, which she did. She is also learning to deal with customers who are trying to get something for nothing.
Now that the orders are coming in she's adjusted her prices, she's seeing the money come in as well. She gets to set her own hours, but as a business owner she found out that you work 7 days a week and be hands on to keep things flowing.
Of course I'm helping her out as is her father to keep up. It's fun to watch her business grow. I almost gave up my office downtown as working from home will continue for society. I'm glad I did not give up my office as now it's become her production line and shipping warehouse. There's no way we would have been able to fit everything in the garage or a spare bedroom. We might even have to rent more space. In my building there are several empty offices and they are begging for tenants that actually pay the rent.
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