Oscar Toro
Contributor
User Power
Value/Post Ratio
74%
- May 27, 2015
- 34
- 25
- 33
Quick summary of my history, (I allready posted twice here, and got nice comments):
Quit a well paid job at 24 y/o, with an engineering title, specialization in BA, and more studies to start a jewelry business in my country.
I found about this forum on a business trip to Colombia (To find an emerald provider); and read an import thread, where I learned how to import from China, and developed a business with all those insights that is currently paying my everyday.
Afterwards, I took on the family business, which was at its worst, but we have good projects with a lot of potential.
So I am now managing four lines of products, and I am currently employing 2 people for this tasks. One graphic designer, and a embroider manufacturer.
I am happy that the business has been growing since I took charge, for example: We won a fund contest for an university to research one of our products (I work in the investigation).
The jewelry line got funded by a private investor, and he became a partner which is helping me with the work load.
Several government entities have shown their desire to support the projects, and they can invest their resources into the develop and commercialization of the products.
BUT everything is not going well, for the business has a lot of problems:
-Everything advances on a REALLY SLOW way. Even though we are hiring some services, they just can not give the work on time, so I have to personally follow up really close the work (And that takes a lot of time).
-There exists a lot of merchandise that is just stored, and can not be sold because of a slow inventory rotation.
-The resources are not enough, the workload is huge for each role. Everytime we figure out something, three more problems appear. It is hard, and I feel like I am going nowhere.
-Stress is everywhere, at least for me who is directing everything and checking on the progress. I actually handle stress really well so this is not an issue.
There are more problems, but we are currently working on them.
I am sharing my entrepreneurial project with you guys, I will add more information later about the projects, products and business model.
I believe this are all common business problems and I just want to take you guys on this journey with me. I will keep adding more information in this post and, if you have something to comment I will not take it in a bad way.
Final note: Sorry if I made any grammar mistakes, english is not my first language.
Quit a well paid job at 24 y/o, with an engineering title, specialization in BA, and more studies to start a jewelry business in my country.
I found about this forum on a business trip to Colombia (To find an emerald provider); and read an import thread, where I learned how to import from China, and developed a business with all those insights that is currently paying my everyday.
Afterwards, I took on the family business, which was at its worst, but we have good projects with a lot of potential.
So I am now managing four lines of products, and I am currently employing 2 people for this tasks. One graphic designer, and a embroider manufacturer.
I am happy that the business has been growing since I took charge, for example: We won a fund contest for an university to research one of our products (I work in the investigation).
The jewelry line got funded by a private investor, and he became a partner which is helping me with the work load.
Several government entities have shown their desire to support the projects, and they can invest their resources into the develop and commercialization of the products.
BUT everything is not going well, for the business has a lot of problems:
-Everything advances on a REALLY SLOW way. Even though we are hiring some services, they just can not give the work on time, so I have to personally follow up really close the work (And that takes a lot of time).
-There exists a lot of merchandise that is just stored, and can not be sold because of a slow inventory rotation.
-The resources are not enough, the workload is huge for each role. Everytime we figure out something, three more problems appear. It is hard, and I feel like I am going nowhere.
-Stress is everywhere, at least for me who is directing everything and checking on the progress. I actually handle stress really well so this is not an issue.
There are more problems, but we are currently working on them.
I am sharing my entrepreneurial project with you guys, I will add more information later about the projects, products and business model.
I believe this are all common business problems and I just want to take you guys on this journey with me. I will keep adding more information in this post and, if you have something to comment I will not take it in a bad way.
Final note: Sorry if I made any grammar mistakes, english is not my first language.
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