What Small Business Owners Say - Part 2

Click here to read part 1

Megan Collins is the owner of The Last Wordsmith Book Shoppe in North East PA. We recently sat down and talked about what it is like to start and run a business these days. Below is part 2 of our interview:

Kristine: Is there anything you would have done differently when you started your business, knowing what you know now?

Megan: It’s really hard to say because you learn so much from your customers as to their wants and needs, and you can’t do that until you are actually interacting with them. Like, I had no idea that there would be a big call for Amish fiction. Your customers really determine your inventory in a book store. Personally, I like mostly non-fiction but I wouldn’t sell many books if that’s all I stocked.

I do wish that I had planned an advertising scheme of some kind. Something like, an ad that read, “Guess what’s coming to 17 East Main in North East?” one week and then for the next few weeks give clues and make people guess what it is. Something that would spark interest from the beginning and get people thinking. People remember stuff like that.

Kristine: What advice would you give others who are thinking of starting their own businesses now?

Megan: Be sure that you are ready to struggle, financially, personally and physically. Long hours, no pay and little time for family or entertainment. If you are patient and tenacious and absolutely love what you are doing, you will be fine.

Kristine: What measures are you taking to ensure that your business will survive during these tough times?

Megan: I have cut back on decorations and catered items for holidays and events. Plans for new sidelines are now on hold. I have also had to cut employee’s hours.

I have not cut back on advertising – I think you have to keep your name out in front of people. They have to get to know you and continue to be reminded that you are there.

Kristine: Any other comments, thoughts or bits of advice to potential or current small business owners?

Megan: Just to do whatever you can to get through this time. Other businesses started during down times and kept going, look at Disney, he started during the great depression. It won’t be easy, but if you can make it through, it will be worth it. At least I keep telling myself that!

Kristine: Thanks very much for your time and insight.

Later this week, we interview Katie Rowan, owner of Fresh Picked Vegetarian Delicatessen in North East PA.