I watch the shows about people who built something in their garage, Oprah found out about it, and the millions just magically appeared the next day. For most of us, though, that didn’t happen.
In 2004, I began doing some freelance work and had a strong desire to start my own business. I was enticed by having more freedom with my time and achieving greater financial reward for my efforts. As I worked out my business plan and took steps to form the LLC, I got pregnant and halted any major progress for a while.
Back in the saddle once again, I began working on building a business with fervor. As I worked all day at my “real” job and 5 hours a night on my business, it became clear to me that my cash flow wasn’t really turning into a profit. I needed a business plan overhaul – fast.
In lieu of a business plan overhaul, I built and delivered another child. Well, one can’t say I wasn’t productive.
A few years ago, I began to get my Mompreneur mojo back and read tons of books and online articles about starting a business, owning a business, and how to make a business thrive. In their book, “A Girl’s Guide to Business”, authors Caitlyn Friedman and Kimberly Yorio discuss that they don’t try to do everything with their business. They are a small, niche business and serve a niche clientele.
I was fascinated by this concept. To date, I knew I wanted to provide administrative business services to other businesses, but I had never clearly defined what services and which businesses. Like a bell ringing clearly in my head, I knew for sure that my niche is providing marketing, billing, and human resources services to small businesses with 25 employees or less.
I launched with that newly defined niche in December 2009 and had a goal of taking on 5 projects in 2010. By the end of January, we had five new clients and I had to hire another employee. With steady growth and spurts of volume, our phone just seems to ring at the right time to keep us busy and sustainable. We have not advertised at this point, other than to provide some donations to local organizations. Our business comes from referrals from current clients and us sharing our story with other small businesses like us.
I got great advice and followed it. Other companies like ours won’t even take clients so small. We love really small businesses and our niche is that we “get” them, we cater to them, and we have a heart to serve them.