Planning to start a business? Entrepreneur reveals that one rookie mistake you should avoid
Opting to start your own business instead of holding on to a steady job is a brave decision with risks that can pay off with the right balance of hard as well as smart work. While there’s a lot that one learns before starting a new venture and as they move forward with the business, entrepreneurs often find themselves in a tight spot due to some missteps. But thanks to social media where established entrepreneurs share their experiences, those who follow suit don't need to learn the hard way. One such insightful personality is TikToker and entrepreneur Miriam (@levatelabel) who owns the activewear label Levate, and she has shared the number one rookie mistake to avoid while one looks for sample items.
What entrepreneurs shouldn't do
In the video, Miriam explains that the rookie mistake she made cost her $5,000 when she started her business. She admits that she made this mistake due to a lack of knowledge and research, and it led to a major setback. To start her brand she contacted a manufacturer who claimed to have worked with several big brands. Miriam says that the manufacturer asked her to make the payment for the bulk order in advance before getting the samples.
She says that the manufacturer told her to pay for the bulk order to receive the samples and then she could make changes to the order if she didn’t like the sample. Believing in the manufacturer, Miriam made the payment.
However, the manufacturer took Miriam for a ride and took five months to send the first samples of the product. She says she had to call them every single day, just to get an update even though they had promised that the samples would be sent within the next week of payment. When the samples finally arrived, Miriam wasn’t happy with them at all and told the manufacturer that she didn’t want to go through with the order.
However, Miriam was flabbergasted when the manufacturer said that it couldn’t be done as they had already produced the product in bulk. Miriam was frustrated since the manufacturer had promised that they would go ahead only after she confirmed the order.
She explains that the manufacturer didn’t budge and she ended up getting the order which she sold as a sample. After learning from her experience, Miriam tells all budding entrepreneurs to never pay for a bulk order before getting the samples.
The comment section of the video confirmed that Miriam wasn’t the only one who fell for the false promises. “I’m currently in an ongoing battle with a manufacturer with a similar situation. Lost £10k” wrote user @frangresswell.
Meanwhile, several users joked around that this is why they can’t build a business. “Stop because I would’ve flown out and caused a scene at his factory,” user @shan.yousif joked.
How to ask suppliers for samples
Entrepreneurs are advised to get a contract in place before making any payments. Entrepreneurs can ask suppliers to add the sample's cost to their official order once they go ahead with it, or they can pay for them upfront. With this, entrepreneurs will be able to save money if they decide to order from another supplier. Entrepreneurs can also sign an agreement to share the cost with the supplier.
Editor's note: This article was originally published on May 23, 2024. It has since been updated.
