Sorry for not posting more frequently, I’ve been very busy at my part time job teaching ESL this week. But I did want to share a big decision I’ve made this week.
Since I came up with the BeddyBye idea I’ve read a lot about entrepreneurship. All the advice suggests that you ask yourself how involved do you want to be. Do you see yourself running the day to day operations of the business, or would you rather develop the concept and then sell it?
For a long time I was certain that I would want to run the day to day operations – work with manufacturers, run the website, organize the shipping and inventory, and improve marketing. However, when I think about how much is involved with manufacturing it is overwhelming. There is a reason why so few people enter the manufacturing business, or sell their ideas to an established business- the start up costs are so high for an individual entrepreneur. I realized that I don’t want that to be my full time job.
I have decided to take a month long break from BeddyBye and then I will focus on selling the idea. I think the best option is to get a provisional patent and then sell the idea with the website domain and the LLC. I want to see my dream realized, but when I’m honest with myself, I recognize that I don’t have the energy, drive, or money to handle the manufacturing hurdle. In other words, I would like someone with the experience and resources to take over.
But don’t feel bad for me. I don’t look at this as a failure or as settling. When I set out on the HeSo project my goal was to take my dreams and ambitions more seriously. My goal was not to focus all my attention on one idea. So if I am able to downsize the BeddyBye project, teach ESL (which I love), and work on my exciting next project (which I will write about in the next month or so) I will be true to my HeSo.