MISTAKES from my first business | How much is your time worth?

In 2016, I found myself unsatisfied with my full-time job at an architecture firm. To break free from the stagnation, I decided to start a side hustle.

Pallet Snobs

Living near an industrial area with discarded wooden pallets, we saw an opportunity to create well-designed, minimalist art and furniture using reclaimed pallet wood. Thus, Pallet Snobs was born, driven by values of reusability, recycling, and waste reduction.

Despite juggling our full-time jobs, we spent weeknights and weekends collecting pallets, transforming them into beautiful pieces using the wood shop at the Dallas Makerspace. I learned woodworking skills, ran a woodshop class, and marketed our creations on social media, building a website and making my first YouTube videos along the way.

While it was a tremendous learning experience and allowed me to tap into my creativity, the business faced unforeseen challenges that led me to close shop after just seven months. The minimalist design focus and rejection of the popular “faux-rustic” look proved less profitable. Additionally, competing with mass-produced alternatives and the sheer labor intensity of the process made it unsustainable. Most importantly, I realized the true value of my time when I calculated the hours spent versus the profit made.

Time and Worth

The most crucial lesson I learned was to value my time and worth. I realized the importance of delegating mundane tasks and focusing on what sets me apart. This revelation led me to explore alternative business models. Benjamin Uyeda’s TED Talk opened my eyes to the idea of selling concepts directly to people through YouTube and social media instead of traditional product-based approaches.

Embracing the value of time extended beyond my business endeavors. I delved into automation, learning Python to streamline repetitive tasks at work. I noticed inefficiencies in the architecture and construction industry and advocated for embracing automation to save time and money without compromising quality.

Applying the concept of valuing time to both personal and business decisions, I understood the importance of optimizing resource allocation. Whether it’s building a house or managing relationships, time plays a significant role in decision-making.

Lessons learned

Today, valuing time drives all my business choices. I weigh the time invested versus the money earned, ensuring that the experiences and learning opportunities are appreciated and utilized effectively. Understanding the worth of time has transformed the way I approach entrepreneurship and life as a whole.

If you’re looking to make the most of your time and resources, join me on this journey of valuing time, making informed decisions, and embracing efficient and sustainable practices. Together, we can create a better future for ourselves and the world.

Belinda Carr

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