Innovative Guitar Effects Production
In may of 2005, I founded a company marketing handmade products for guitar player that met a large demand with few quality products available. As a young 18 year old entrepreneur, I had no idea what I was getting into. My first year profits were impeccable but business model was horrible. I had no plan for expansion and marketing was only word of mouth. Eventually, when I shut down my one employ business to focus on expanding and seeking investors, my finances fled and I left the business to pursue other dreams.
Now, 3 years or upper level management for marketing companies and research for product designs later, I've reopened my company to find it's been forgotten amongst the competition. Reopening has been a burden and my poor credit rating has eliminated any possibilities of opening a small business credit account. My business strategy and marketing plan are staggeringly good in comparison to the few competitors, but getting funds for initial marketing, neccessary machinery, and to prototype new products has proven to be very difficult.
Stick with it even if you show a small profit. Learn about business before you jump into, because this could be your only shot with your current ideas.
