Get a lease or a loan for a car? Rent or buy a house? Start a business or not? Expand the business or not? There is no shortage of material written about these types of decisions. Some of it is actually well researched and helpful. The thing though is that most often the advice only focusses on the crunching of numbers and the conclusions drawn from the results of the number crunching.
But, and it is a BIG but, there is more to be considered in these decisions than numbers. Let’s call the numbers the ‘tangibles’ and let’s call the other considerations the ’emotional’ considerations or the ‘intangibles’. It is the ‘intangibles’ that are most often overlooked when advice is offered for considering make-or-break ‘to-do-or-not-to-do’ questions. Questions like, should I start a small business or should I expand my small business? Of course the ‘tangibles’ have to be considered carefully, but so do the ‘intangibles’. Considering only one or, worse still, neither, has destroyed many a business-ownership dream.
By no means is Stanley’s trying to discourage ownership or expansion of textile screen printing shops. On the contrary, Stanley’s would love to have more new or growing textile shops as customers but would also like them to be successful. Textile screen printing shops can be fun, artsy, and creative businesses to own, if done right. ‘Doing it right’ though includes considering not only the ‘tangibles’ but also the ‘intangibles.’
So let’s assume that you want to start a textile screen printing business or expand one and you have considered the tangibles; you have crunched the numbers. You have bounced the results off a reliable advisor or two and it is all looking good. You have checked out the Stanley’s web site and maybe you have talked to one of their knowledgeable staff so you know that they will be source of supply and support. Now, what are the ’emotional’ or intangible aspects that you need to consider?
Next week – the emotional considerations to be taken into account; the stuff too often overlooked when making start-up or expansion decisions.