My Biggest Mistake: Didn't have a backup plan
Consultants, self-help gurus and moms agree: Mistakes are how we learn. Small-business owners tell us their biggest error. Here is this week's:
Business Owner: Suzanne Park, 35, Kirkland, Wash.
Company: Plaid Doctrine
What I did: Had no backup plan when manufacturing problems arose.
Background: I left a job at Microsoft to start a new business making eco-friendly bags and accessories. But starting from scratch without the background and contacts that other people have –- it was literally starting from nothing.
The Mistake: We were planning to launch in time for the holidays, but the manufacturer I hired prioritizes bigger companies over smaller companies, and we got unslotted from the production run. I missed the entire holiday season because of this situation. I had to start my business in the spring instead, with a new baby in tow.
What I learned: Make sure you have a contingency plan in place.
Have you made a mistake from which other small business owners can learn? Please tell us about it at email@example.com.
-- Sharon Bernstein