What's one thing you want to achieve for your business in 2024? 🎇‌

[tranguyen]

Hey everyone, I'm back 👋 ✨ 

It's hard to believe but the end of 2023 is fast approaching — there are only six weeks left before 2024 begins. We on the Seller Community team have been spending a lot of time brainstorming ideas for what we want to do next year, which got me thinking:

What's one thing you want to achieve for your business in 2024?

My personal goal for 2024 is learning how to learn dressmaking! I bought a bunch of vintage fabrics and quilts recently and it would be nice to turn them into something fun to wear.

Looking forward to reading all your replies 🌟

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[maxpete]

@tranguyen we might need a new content series where you share your progress with dressmaking! 

One thing that has been top of mind for my wife's business is hiring additional staff in the new year. We've realized this year that in order to scale and grow in a sustainable way, there needs to be more people helping out the business. A good problem to have, but definitely a new one we'll be exploring. 

What about you? @Twpchair, @lenjobakes, @lisap1970, and @HC_Charlie 

[Twpchair]

Ughhhhh,  welcome to the world of finding good help! I finally have 3 employees since about 7 years of struggling to find good help and reliable help. I tried many services for employment and for me they didn't work out. It's been our biggest challenge being retail furniture and there is heavy lifting and moving items. I have 3 young men all 30 and under now for about 5 yrs. They are amazing! I am extremely easy going laid back type boss. Every Friday I treat everyone to lunch, I offer bonuses for those that sell the most each week. They don't miss work, they don't call in sick, I found the more I'm easier to get along with it makes them more comfortable or willing to show up to work. I try to keep an upbeat positive happy work place and so far it's been the best group of guys/employees I've had. I hope that helps. Nothing against ladies at all but with our line of work lifting couches, kitchen tables and hutches. I needed muscles is all. Good luck to you!

[maxpete]

Thank you! Glad to hear that you have been able to find the good help that you need! Also, so nice of you to offer free lunches and bonuses too! 🙌

[Twpchair]

Ops, I just saw the dress making part. Since 2014 one thing I've learned is customers and people like upbeat, great outgoing personalities over I hate to say it like this but an Ole stick in mud attitude. I'm pretty good at judging people's characters and personalities and I would trust my gut and instict with this one honestly. You might have the best person going off of a resume but has zero personality. You want someone who can sell a burlap bag 😆 🤣 😂 and she will feel like a queen walking out in that dress. It's hard to find good help it really is and unfortunately you might have to go through a couple to find that special one or 2 depending on how many you need. Growth is wonderful but it comes with stress as well. Best wishes!

[HC_Charlie]

@maxpeteI've always avoided hiring any employees; eventhough the help would be welcome, there are so many issues with dealing with regulations and training issues...i know it's limiting, but I work to grow the business as much as I can and still keep it at a level with I can handle the workload myself. I haven't maxed out yet, so it will be an interesting time if/when I get to that point.

[maxpete]

Definitely feel you on this! Hopefully when that time comes, it isn't too big of a transition for you!

[TCSlaguna]

Operational Excellence

Well designed procedures that are efficient, replicable, transferrable. 

[maxpete]

love it!

[rtfulk]

The biggest thing we are working on for 2024 is starting a wholesale business to hopefully, eventually replace our retail. We are 58 and traveling the country working fairs will have to end at some point.

[maxpete]

Interesting! Would the plan be to run the wholesale business in house or use a third-party platform like Faire, etc.?

[HC_Charlie]

I'm also been working the past 1.5 years to position myself into doing strictly wholesale, and closing our retail store. There are so many things I love about retail but it's been beyond challenging...even more so than during and right after the pandemic. Working in wholesale will reduce expenses like rent and inventory for a retail store and allow me to focus on what is most profitable for my biz.

[Dsandwr]

Breaking the code on service vs. labor cost. In order for us to continue service at the level we do, the busier we get the more staff it takes but the profit goes down. Finding that balance in the restaurant space is a challenge. Prices are already maxed for the moment. Switching to counter service or self ordering isn't right for us either. For the first time I'm thinking less tables equals more profit.

[maxpete]

Balance is key! With less tables, do you expect more to-go orders to pick up as well?

[Dsandwr]

Not Necessarily. The scale of more guests and more tables to staffing doesn't always equal out. If you double your tables you have to add staffing but you're not always guaranteed to fill those tables. (we are a first come first serve place) Some days it pours in and some it doesn't, but you always need to be ready for it if it comes. It's hard to hold tables empty while on a wait due to low staffing. Guests see the empty tables and it doesn't make sense to them. The way our volume comes in is very sporadic. 

[maxpete]

Appreciate the context here, and makes total sense! Something that I didn't even think about was having enough seating but not the staff to support it which can drive away customers. I am interested to hear how it goes in the new year if you do decide to remove tables and how that affects profits, etc. 

[Doran]

Expanding to a bigger location.  My spot isn't working out anymore even though I love the space.  So I want to use this opportunity to move to a larger spot where I can have more estheticians join me.  

[maxpete]

@Doran Growing pains I am sure, but exciting to be needing a bigger spot!

[lawnbrook]

We want to concentrate on our wholesale/online business. The customer facing part of our business is becoming harder and harder due to increased costs, difficulty of finding staff, I'm sure you are all feeling the same pain!

Bruce

[maxpete]

I see this being a common theme a bit here! 

[MudFire_Dex]

Expansion as well - we've spent the past several years looking for a space with everything we needed and next week we meet with an architect to see if we can budget for construction on the space we have. We already negotiated no rent increases for the next 4 years and our landlord wants to owner finance the building for us at the end of the lease.