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a. Self-Assessment

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What is it that makes one person succeed while another fails? While there is no stereotype of a successful businessperson, certain common characteristics can be found in those who succeed. For example, they are invariably hard-working, determined, resourceful, and capable of honest self-appraisal.

Starting your own business is risky, and you need to be clear on whether it is the best choice for you. You may already create gift baskets as a fun hobby, but turning your skill into a business is a very different venture. Examining both your strengths and your weaknesses gives you the chance to remedy the factors that may impede your success. If you don’t manage time well, don’t like to work alone, and dislike making decisions, starting your own business may not be for you unless you are willing to work on your shortcomings. You don’t have to be perfect, but you do need to recognize and acknowledge your abilities and weaknesses before investing time and money in your gift basket venture.

A passion to succeed, an eagerness to learn, and an acceptance of responsibility can overcome any weaknesses.

No quiz, test, or questionnaire can definitively dictate to you what you should or should not do. Their value lies in helping you think by engaging you in honest appraisal. You are capable of capitalizing on your strengths and compensating for your weaknesses as long as you know what they are and if your passion to succeed is powerful enough.

Once you have determined that starting a gift basket business is the right venture for you, take some time to test your creative ability to make baskets. Purchase the materials to make two sample baskets, such as unique containers, basket stuffing, ribbon, cellophane, gourmet products, or other small gift items that reflect the look and theme that you have in mind. Experiment with making the baskets until you have a feel for what makes a visually and aesthetically pleasing package. Use these samples when doing your market research by showing them to family, friends, and, most important, to members of your focus group (see section d. later in this chapter).

Start & Run a Gift Basket Business

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