Ilandrama: 2004 - 2007
I've officially closed out my Ilandrama merchant account. Now all that is left is to close the bank account. It's costing me money every month I have it open or I wouldn't bother. While I am there, I'm going to talk to the bank about why everyone else seems to have free checking and I'm paying a monthly fee, and perhaps steal a chair or three to make up for all the bank fees they've charged me over the years.
If you don't know what Ilandrama is, it was one of my startup business ideas that I put a great deal of time and effort into along with two friends of mine, a designer and a marketing expert. Over a couple of years I had acquired decent candle making skills, and I figured I could turn it into a profitable business. Hundreds of hours of work and thousands of dollars later, we ended up with a great custom product (original scent formulas, proprietary wax blend, unique labeling, etc.) just... I realized I didn't have time to make the candles, at least not as much as I needed. And between working on the game, doing consulting jobs, working on another startup that eventually became my current job and my full-time job at the time (damn, was I really doing all that? No wonder I felt overworked), I didn't have the time to really make things happen. I realized that I'd need to focus my full attention on the company to make it work. I couldn't give up enough stuff to focus on it full time without losing a significant portion of my income, either, and considering I just bought a new house almost two years ago I wasn't willing to make that sacrifice.
Now, the market is deluged with candles, it seems. I could probably still make the business work if I went for it gung-ho since there really aren't that many upscale, quality brands (relatively speaking). But in order to make the kind of sales I'd need, I would have to hire some people to make the candles (or make them myself in huge batches), get a salesperson to sell to local boutique stores (I don't have the "sales gene"), and work on that until my business/supply apparatus grew enough that I could attract catalog orders (which is where the "real" money is in this sort of business - when you start getting the big catalog orders - and can handle them - you know you've made it).
I've essentially got a turnkey business just sitting here. I may pick it up at some point in the future but I don't think this is going to be how I make my millions. Meanwhile, my candle making skills have dwindled back to what they were originally, making candles for holiday gifts and my own personal use :)
I don't consider this a failure, however. I learned a great deal about myself and all sorts of other things that have already helped me significantly in life and in business. But it is a historical mark, of sorts.
If you don't know what Ilandrama is, it was one of my startup business ideas that I put a great deal of time and effort into along with two friends of mine, a designer and a marketing expert. Over a couple of years I had acquired decent candle making skills, and I figured I could turn it into a profitable business. Hundreds of hours of work and thousands of dollars later, we ended up with a great custom product (original scent formulas, proprietary wax blend, unique labeling, etc.) just... I realized I didn't have time to make the candles, at least not as much as I needed. And between working on the game, doing consulting jobs, working on another startup that eventually became my current job and my full-time job at the time (damn, was I really doing all that? No wonder I felt overworked), I didn't have the time to really make things happen. I realized that I'd need to focus my full attention on the company to make it work. I couldn't give up enough stuff to focus on it full time without losing a significant portion of my income, either, and considering I just bought a new house almost two years ago I wasn't willing to make that sacrifice.
Now, the market is deluged with candles, it seems. I could probably still make the business work if I went for it gung-ho since there really aren't that many upscale, quality brands (relatively speaking). But in order to make the kind of sales I'd need, I would have to hire some people to make the candles (or make them myself in huge batches), get a salesperson to sell to local boutique stores (I don't have the "sales gene"), and work on that until my business/supply apparatus grew enough that I could attract catalog orders (which is where the "real" money is in this sort of business - when you start getting the big catalog orders - and can handle them - you know you've made it).
I've essentially got a turnkey business just sitting here. I may pick it up at some point in the future but I don't think this is going to be how I make my millions. Meanwhile, my candle making skills have dwindled back to what they were originally, making candles for holiday gifts and my own personal use :)
I don't consider this a failure, however. I learned a great deal about myself and all sorts of other things that have already helped me significantly in life and in business. But it is a historical mark, of sorts.