How do I start a business?

I have never been more passionate about anything in my life than I have been with letterpress. I skipped the hobby stage of letterpress and opted not to get a table top and instead invested in a C&P 10×15! It sits in my dining room which I converted into a mini studio for freelance work. For full time work I continue to work dead end jobs that pay my bills but I am constantly unhappy and WISH I could fulfill my dream of starting my own (full time) letterpress business. My only apprehensions is will I constantly have enough work to bring in enough money to support myself and my business. How/where do I market myself to build a steady clientele? Do I need my own studio space to attact foot traffic and how can I afford the monthly rent?

Any advice on how other people were able to get things started would greatly be appreciated!

Heidi

Hey Heidi!  I’m in the exact same boat as you and am really excited to hear what the other Ladies of Letterpress have to say.  I’m not sure that I’ll be much help, but here are a few places I’m starting:

• Develop a business plan to help focus your company goals.  I went to the Small Business Administration website and found a template here: http://www.sba.gov/content/templates-writing-business-plan
• Try testing the waters with an Etsy shop or in craft fairs
• Get your finances in order, you’ll have to keep immaculate records come tax time.  Also (if you can) try to build up a little financial padding to keep you afloat in case it takes a while for business to pick up.
• Start building relationships with local shops and other professionals that might be able to help grow your business.  For example, I’ve teamed up with a friend who runs a wedding planning business, and she’s been sending letterpress invitation work my way. 
• And lastly, I’ve found the Biz Ladies articles on Design*Sponge super helpful http://www.designsponge.com/category/biz-ladies

As far as making that big leap, I hope you get some good feedback here, and best of luck to you!

Hi Heidi,

Deirdre gives great advice. I would also think about what kind of printer you wanted to be: commercial/production (printing others’ designs), wholesale/retail (printing your own designs for resale on Etsy or elsewhere), or a combination of the two (designing and printing your own invitation line, for example). Do you want to be a shopkeeper in addition to a printer? Figuring out these things can help you decide what to focus on as you gain printing experience, and might help keep you from spreading yourself too thin.

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