My Venture
Embarking on a business journey at the age of 20 proved to be a significant challenge, particularly while balancing the roles of a full-time student, part-time worker, and being physically distant from the venture. This endeavor took root when I was in Florida during the Covid-19 pandemic, but as I returned to school in New Jersey, I had to navigate its administration from afar.Navigating every aspect of this process was uniquely challenging, given that it was the first entrepreneurial venture for both my sister and me. To navigate and succeed, we had to prioritize effective communication and learn how to manage time, risks, and our expectations.
The objective was straightforward: establish a thriving business, ultimately yielding profits, with the ultimate aim of passing the reins to my parents. After all, this venture was conceived from their initial idea.
Right from the start, we weren't sure how to kick things off. So, we started with the basics, like designing the logo and choosing the color pallet. Now, looking back, there are plenty of things I'd do differently, armed with the knowledge I've gained along the way. The subsequent phase involved enlisting a professional to create our website. We engaged the services of a skilled Brazilian freelancer who played a pivotal role in constructing our site. Achieving a satisfactory outcome demanded extensive communication, prompting us to hold regular meetings with the freelancer, where we actively communicated our preferences and requirements. After that we had to buy a domain and launch the website.
Next, the focus shifted to establishing the rates for our services, with my sister, who holds a major in Finance, assuming the primary responsibility. However, this task demanded thorough research, encompassing an analysis of competitors and conducting interviews with individuals who frequently sought our assistance in purchasing items on their behalf.
The final phase involved executing the business plan, developing a marketing strategy, and generating content. As previously mentioned, I wasn't physically present in Florida during this stage, posing a challenge for content creation. Nonetheless, through trial and error, my sister and I established a workflow: identifying viral videos, with her handling the filming and myself taking charge of the editing process. We streamlined the posting procedure using Hootsuite.
While the first one year post-launch proved successful, my sister and I opted to refocus on our individual careers. Consequently, we handed over the business to our parents. However, within two months, they expressed a change of heart, leading us to the decision to relinquish the venture, departing with valuable knowledge and experience gained along the way.
