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The Harsh Truth About Starting Your Own Boutique

Mercedes Gonzales, Director of Global Purchasing talks about these five pivital rules for any start-up business on "The Insider's Guide to Succeeding in Retail on

When you're starting a new business, whether your selling goods or services - you're going to want to ask yourself this one question, "How do I work as little as possible for the most amount of money?" Mercedes Gonzales.

A couple ideas may pop up in your mind, but ask yourself:

Can you make money?

Is the business idea sustainable?

Are you trying to have a claim on something to boost your ego? (If so - red flag!)

Is this a business you believe in and are passionate about?

Five steps you just consider when determining if you should open a retail store.

1. The number #1 reason your opening your store is to MAKE MONEY - Not to feed your ego.

2. You're not opening up a store to sell the things YOU LIKE - You need to buy the things that sell

3. You're thinking big! - You should not be thinking small, your business need to be scalable and must grow exponentially faster when economy of scales increase.

4. You're not planning on working on the sales floor or in the store. - You should not be opening a store if you want to be the person at the counter ringing in orders or doing the services. Operating a business is a full-time job and you must hire staff in the long-run (not hiring - is not an option).

5. You're not giving up your day - You should not be starting a business to leave your day job, you will need this steady income while you are growing your business.

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