Wednesday, October 31, 2018

How Past Experience Gave Me a Cause to Startup


I think every passionate founder has a story of why they initiated a startup. Here is my story and I look forward to hear some of yours!-----------------------------------------------------------------------------------------------My family moved to Canada back in 1995 through the Immigration Investment Program. The main requirement for this was to invest and own a business in Canada for a period of time. We ended up buying a small photo finishing store a city around Toronto, Canada.I witnessed the hard work they put into every photo film and always strives for the truest colors of each image. They would actually throw out an entire set if the color was a bit off. They took pride in their work and services. But it was a very tough business to be in. In fact, we were losing $3–5,000 a month running that place. On top of the rent, utilities, and inventory, we also had an old photofinishing machine that was worn out and costed a fortune to fix. They were left with little-to-no money for advertisement and marketing. The lack of growth was slowly killing the business. The overwhelming stress even caused my mom to faint a few times.The financial stress was really caused by low revenue, which resulted from a lack of exposure and traffic from the community. Even though the store had been there for a few years, very little people knew of us. The bigger franchises were often the top choices for people. They had more marketing dollars to be on TV, magazine, and radio. They had the budget to work with postal offices to distribute flyers and coupons. They were well known and popular. Trying to take their businesses meant we had to drop our prices even further, which made things even worse.This went on for about 3 years and we sold the business as soon as we met the immigration requirement. It was just not a sustainable investment. If only there were easier ways for others in the community to see the quality and heart that my parents put into their work…Well, that thought stayed with me. After 20 years, even in the days of social media and everyone being more connected than ever, the same lack of exposure problem still exist for small businesses. It has motivated me to pursue a career in marketing. In fact, experiencing the problem first hand became my cause for the project.Thanks for reading!--------------------------------------------------------------You can see my profile for a link to join our Telegram to learn more about our Nodis.io project!Original content came from -> https://ift.tt/2O07MvG via /r/business https://ift.tt/2Ju31F0

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