What was your best business decision in 2024?

Hot Question Forum
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So, what was the best business decision you made in 2024? Share your experiences here!

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I decided not to quit my job and dump all my savings into a small business. Instead, I’ve been running it passively until it brings in enough profits. Does that count? haha

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Lake said:
I decided not to quit my job and dump all my savings into a small business. Instead, I’ve been running it passively until it brings in enough profits. Does that count? haha

For sure! That sounds like a smart move. I’m looking forward to hearing about it when you take the leap!

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Lake said:
I decided not to quit my job and dump all my savings into a small business. Instead, I’ve been running it passively until it brings in enough profits. Does that count? haha

‘Run it passively’? What kind of business is this? Sounds cool!

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Lake said:
I decided not to quit my job and dump all my savings into a small business. Instead, I’ve been running it passively until it brings in enough profits. Does that count? haha

I did the same with my marketing newsletter. I wanted to quit my job but decided to keep it as a side project until it can support me.

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We tried experimenting with expanding into new areas. It cost a lot and took some trial and error, but we really hit it big this year.

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I gave generous appreciation gifts to my suppliers and big clients (definitely not bribes). It helped double our revenue and also brought down material costs significantly.

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Avery said:
I gave generous appreciation gifts to my suppliers and big clients (definitely not bribes). It helped double our revenue and also brought down material costs significantly.

What kind of gifts did you give? Just wondering, because gifts can be a hit or miss sometimes.

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@Brice
I gave dinner vouchers for nice restaurants, gift cards for stores like clothing, shoes, jewelry, etc. One supplier even gets a pack of cigarettes every couple of months—cigarettes are expensive in Australia!

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I finally decided to get into paid ads. I was intimidated by how complicated it seemed, but I hired freelancers to teach me how to do it properly. It paid off big time and helped me scale my business in no time.

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@Shai
What business do you run?

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@Shai
What platform did you use for the ads?

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@Shai
Did you create the ads yourself?

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I switched my online store from Magento to Shopify. My revenue doubled after the switch! I didn’t realize how much better Shopify is for small businesses. I had been planning to migrate for years but kept putting it off. I tried to do it myself, but it was too complicated, so I hired someone from Fiverr. My biggest regret is not doing this sooner!

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Always fart before you start.

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I closed my shop, cashed out, and became a very highly paid consultant for a big company…