2017 was quite a year for me. I just went all in on Flower Gift Korea a month before the year started, after running an Engish Gyosoopso located in Seoul with my wife for close to four years. Even though my flower business technically started in April 2016, it was just a side business at the time.
Looking back, it was a little risky to leave a business that allowed me to make a living, but my wife and I both knew that once February hit, we would see a spike in sales, which was actually the case. From February on, our sales month to month were good enough to help us keep enough money to survive, save some money, and help chip away at our loans.
2017 was also the year I started this blog and podcast. Even though I haven’t been creating much content for Entrepreneur Korea recently, I still plan on making this blog/platform the main online place for me to share my journey and thoughts, as I build my business empire in South Korea.
Before I continue sharing my thoughts, I want to take some time to take a look at last year’s months and see what big things were happening month to month.
-First full month the Flower Gift Korea offline store was open.
-Flower Gift Korea saw a spike in sales and we had 5 figures in sale for the month.
-Nothing comes to mind at the moment
-I started this blog/podcast (EntrepreneurKorea)
-I partnered with a pressed flower company in Korea and began to sell some of their products at Flower Gift Korea.
-I created an Etsy account for Flower Gift Korea
-I updated the EntrepreneurKorea website
-I started my morning routines
-I created an eBay account for Flower Gift Korea
-I created Kpopvisit.com which is a website that lists some of the Kpop agencies in Korea.
-Went to some Networking events
-Held a HagwonStart Members meetup
-Flower Gift Korea went “hourless“
-Learned some of the basics of trade by taking a course offered by the Seoul Global Center.
-Rearranged the furniture in Flower Gift Korea and made it more into a work station (with a focus on online sales) than an actual flower shop.
-Registered my Trade company, Smart Trade Korea
-Closed my Etsy and Ebay account for various reasons
After reflecting on 2017, it is very clear to me that the most important thing to me is lifestyle. I want to work hard and achieve a bunch of things, but I don’t want to put my lifestyle on the line. I would rather be happy with enough money, than be miserable with a whole lot of money. Actually, I rather be happy with a whole lot of money and I believe that day will come; the day where I will have cash flow coming from different avenues. But right now, I’m enjoying the process of growing my businesses and creating new ones.
Flower Gift Korea raked in 6 figures of sales in terms of US dollars. It’s a low six figure amount, but I can go around telling people we did 6 figures in sales 😊. However, the sucky part is that we now have to hire an accountant to take care of our books monthly. And that is going to a monthly fee of at least $100 a month, but it also means that we are making more money now. And I project that we will have at least a 1.5X growth in terms of sales, but my hope is to 2X our sales.
So, what’s in store for 2018? Not entirely sure really as I haven’t really given it much thought. But I know that I am going to continue to build my flower business, complete some of the projects I started, and probably create some new business ideas.
Lastly, I am so thankful for 2017. It was a big change for me in terms of lifestyle. I am able to only work when I know I will be paid for sure, since we receive most of our orders online and then go out and complete the orders. It is quite different than teaching English at a Hagwon. I loved teaching and still love teaching, but it was tough when my class consisted of just one student, or when parents decided they didn’t want to send their children and wanted us to make up for the missed class, or when parents/students were being uncooperative. At times, it was a lot of work for a little pay. But at the same time, operating my English gyosoopso was really rewarding. And I still plan on opening up an education type business in the future when the time is right.
Anyhow, I hope you had a good year. If not, we can both just focus on making 2018 the year we both take it to the next level. Let’s do it!