Why most woodworking businesses FAIL in the first 2 years

[@Real.Estate.Report]

Business advice, woodworking, comedy, and wisdom all packed into a video with incredible cinematography. And I can speak from first hand experience that the shop has a community feel. That’s what keeps me coming back! Great video brother.

[@WilliamDouglasCo]

Thanks brotha! I’m glad you liked the vid!

[@tomware9448]

You have to have a soul to make Custom furniture

[@WilliamDouglasCo]

@@tomware9448 yeah that may be true. Especially from a design perspective. You should probably have a soul

[@GustavoSantanaa]

I'm starting on Woodworking in Brazil. It's my passion. I have found your YT and it's helping me so much. Thanks for sharing your knowledge.

[@manueldominguez9216]

Hi William, this Manu from Mexico ! Very inspirational video! I am in the process to open my woodshop, I bougth some new machinery and other that dad left as a hobbym but I had seen so many woodworkers fail and the reasons to explain make sense. I think These days there are few customers willing to pay for a hand crafted furniture and I will follow your hint and find a product(s) to cover expenses. Great Idea to involve the community! Thanks for share your knowleadge! !

[@MrAndrewlangner]

that CNC V groove bit - straight to a mitre!? no one commenting on that?! that was pretty. great video

[@WilliamDouglasCo]

Appreciate it! I set the cnc to mill about 1/64” higher than the table so it leaves a tiny veneer skin too.

[@gideon4k]

Spot on advice. My business is making branding irons -- My business is custom and yet I also have very dialed in standard processes that make sure I can deliver without surprises. Keep up the great work!

[@TWC6724]

Great video. Thanks for sharing this info. I’m 46 and have been working a job for decades I despise now. I’ve always wanted to give the thought of my own business a shot. Just never pulled the trigger. These are wise words taken to heart. Thank you.

[@WilliamDouglasCo]

I really appreciate you watching! I hope it is helpful to you with your future decisions

[@MaydaysCustomWoodworks]

Hey William. Great video. I've been a pro woodworker for 12 years now. 3 years ago I quit my other jobs and made custom woodworking my only income. I've learned that building a custom woodworking business simply takes time. There is no real substitute to that factor. It takes time to build trusted clientele who will pay enough to live on. Yes, you are correct that you should not just quit all other incomes and make custom woodworking your job too early. I had another job for 9 years while I built my skills, tools, and clientele. Eventually my business grew to the place where I can choose whether or not I want to deal with the hassle of employees or not, and my business will be just fine either way. And now it doesn't make any sense for me to have other sources of income unless it's a long term strategy like making more passive income streams... But I now need to be super super careful of what I commit my time to.

[@Bryan-fn6lp]

Awesome story and information. I was surprised when you talked about projects taking too long and the materials costing more than you estimated. I'm a software engineer and had the same experience. I've never worked on a project that was completed on budget or on schedule. Even when I figured out how to develop more realistic estimates my managers always cut them back and called it a "stretch goal." It felt like I was being setup to fail over and over again. When I was in high school I wanted to be a carpenter , but my parents and teachers talked me into "programming". I really shouldn't complain. It's good, steady income. But I'm bored to death and hollowed out. I can't even see the products I spent my life making. It's just code. It doesn't even really exist and very few people have a need for it. So I watch woodworking videos like yours and wonder if I would have been happier if I would have done what I really wanted instead of engineering. If I lived near you, I'd take your classes and drink your coffee. Thanks for all you're doing. I wish you great success.

[@GaryKlineCA]

I'm a programmer as well. :) I feel much the same way, everything I create on the job just lives in a computer. I got into woodturning and making pens as gifts for family. Finally, I was making something physical I could see and hold and feel good about. It's only a hobby, but I'm making stuff that is long lasting, useful, and people really seem to appreciate. Here's a link to one of the many woodturners out there on KZbin: kzbin.info/www/bejne/fou2mZhro9l3gLs

[@4legdfishman]

Excellent advice! I've been watching you grow, slow and steady. Congrats on all of your little victories! I live in Maine, and you may be the only reason I would visit Arizona.

[@WilliamDouglasCo]

I’ll take that as a win! All I know is AZ. I’ve lived here my entire life

[@celticwoodworking8706]

After woodworking for over forty years, I could not have said or explained it any better. William, your a good man , and keep strong brother. Thank you.

[@kcraftsman6910]

Great Video! I am very early in starting my business, and this is a very reassuring video as I have been working to make a few production products to sell. Hearing that this was part of your own business's success gives me confidence! Just wanted to say thanks for the advice and confidence boost!

[@keithbrock6410]

Great video, I’m just getting started. Trying to do this part time, but it’s my passion. Learn a lot from you guys and maybe someday I’ll get to see the shop. Thanks

[@WilliamDouglasCo]

I’m happy to be here to help! I wish you the best

[@maxgoldwasser5460]

You guys have created something phenomenal... I look forward to expanding my craft and creating such a supportive and engaged community environment that y'all have around you. Insipring. Thank you!

[@WilliamDouglasCo]

We are lucky to be surrounded by so many talented people! Thanks so much for watching

[@0313bouchey]

Thank you so much, I needed to hear this todays hope you have a wonderful weekend!!

[@kylebrantley8556]

Thank you for sharing this message! Love what you guys have built! I’ve got family in the Phoenix area and will be visiting next time I’m out there!

[@BvictoryforChrist]

Love your shop! Love your work, amazing stuff on this channel! Just curious what is “ontoro” that you spoke of that your truck is on? I’m just wondering what that is, I clearly have the spelling wrong cuz I can’t find anything online by that spelling.

[@WilliamDouglasCo]

Haha thanks! My 2nd truck is on Turo. It’s a platform that allows you to rent your vehicle

[@BvictoryforChrist]

@@WilliamDouglasCo oh ok so it’s like Uber but people drive it, lol, cool. I have a Toyota Tundra I may sign up for this.

[@WilliamDouglasCo]

@@BvictoryforChrist it works for me because I have a 2nd truck that I don’t like to daily drive. When the f150 is rented I hop in the ol Jeep and make pretty good money!

[@BvictoryforChrist]

That’s pretty neat thanks for the info man!

[@fraout3553]

THANK YOU ! I'm french and nobody speak about price, business in FRANCE ... I don't know why ! So, thank's again I will follow your channel !

[@arth.4196]

I love this. If my nephew's and niece's brothers and sisters enjoyed all the little or large things that that I built. My work will never die.

[@WilliamDouglasCo]

A Craftsman Never Dies!!

[@windfallwoodworking4438]

I liked this video, subscribed to your channel, hit the notification bell, saved this to my watch later playlist, and im leaving a comment in the comment section because of how much this video has resonated with me. I just decided to pull the trigger on turning my hobby into a career in February and I needed to hear this. thank you, keep up the great work!

[@arcarioandsons]

Man I really love your content, this page is gonna blow up in no time!

[@arcarioandsons]

Man seeing "a craftsman never does" kinda hit pretty close to home this morning.... Great video...

[@jbmusic4034]

Love your content. Underrated in the woodworking guru content creators. Keep up the good work!

[@christophermacier]

I love going to your shop. The vibe, the coffee shop, the people... You guys have done an incredible job making your space feel welcome and it inspires creativity. Can't wait to see how it grows.

[@WilliamDouglasCo]

Thanks so much man I really appreciate your support! Love having you guys out

[@johnnymackay4640]

Informative, useful, and wise words! Thankyou. J

[@TheRealGOTdurrrred]

I'm still just thinking of getting started. I own a handyman business which I think can be a good safety net for a woodworking business. I also sharpen knives for money which used to be a hobby, I wanna do the same with woodworking

[@WilliamDouglasCo]

Sounds like you are building pretty good financial stability that can support trying something new

[@TheRealGOTdurrrred]

@@WilliamDouglasCo For sure. The only thing holding me back at the moment is time. With a newborn and a 22 month old it's hard to even find the time to watch a good KZbin video like this one.

[@WilliamDouglasCo]

@@TheRealGOTdurrrred sounds like me! I have a 7 months old and a 2-1/2 year old. It definitely makes me balance work with home

[@villeneuvewoodworks]

Just came across your video. Going into year 3 of the business, but have yet to take the leap to full time

[@DCWoodWorking]

You nailed it with the opening lines... It happens and if you don't learn you fail

[@jordanbell3473]

Incredible video. is that walnut veneered MDF? how do you like it for your boxes compared to plywood? Really enjoy your insight. some of the best content on youtube.

[@WilliamDouglasCo]

Thank you! Yes it is mdf. I like it better than ply for cab boxes because of consistency in thickness and stability. I suppose BB ply would be better than the mdf but we don’t hand lay up our veneer unless we are working with curved surfaces

[@ericsimpson4045]

Very inspiring William! I thank you for this. Awesome video!

[@djVania08]

Dude, do more videos! I really appreciate what you do here. Greetings from Europe :)

[@WilliamDouglasCo]

I appreciate you watching! We will keep the videos coming

[@kb2491]

Thank you! Excellent video! Keep up the awesome work! … and most of all, KEEP INSPIRING!🤙🏽

[@jimdfwwoodworks37]

Words of wisdom for sure! Im in Phoenix, will need to make my way down to you!

[@WilliamDouglasCo]

Our shop is always open! Except Sundays. Haha

[@jimdfwwoodworks37]

@@WilliamDouglasCo Cool!

[@MrPJM22]

Hello! Not related to this vid, but recently received the coffee beans I ordered. Love it. Would like to order more, but can’t find the vid or product on your website. Where did you hide the beans, my man?

[@WilliamDouglasCo]

We sold the f out too fast. We are working on getting setup with our own roaster so we can keep up with demand. Sorry for that

[@MrPJM22]

@@WilliamDouglasCo No need to be sorry…happy it sold well! Look forward to when it becomes available again!

[@BradsWorkbench]

This came out at a time when i've been struggling with the decision of stopping custom orders this year. I just dont find them as profitable yet

[@WilliamDouglasCo]

I hope it helped you!

[@MaydaysCustomWoodworks]

Hey brother. It takes time, and it's all a puzzle. You need to figure out where the problem is. Sometimes you need to raise your prices, work more, be less perfectionistic, make more jigs, learn from more pros, invest in more software, build more work stations, invest in better transportation, get new equipment.... You just constantly need to identify where the biggest problem is, and keep making adjustments. My business has gone from just $1000 a year when I was 19, to last year we had about 250k of sales through all custom woodwork, and I'm 31. This year looks even better. But it's a constant slow grind. And yes, like William said... Keep your overhead super low and have other streams of income while you are building your clientele. Eventually if you do it right, the custom work will be profitable enough for you to stop most of the other streams of income

[@DreamWorksWoodShop]

Awesome video Will! Being a full-time woodworker myself you definitely need to rely on other sources for income Waiting for that Consignment furniture piece. You provide much inspiration and vision to a lot of woodworkers including me. Thanks for sharing! Keep up the great work brother! 😎✌️

[@WilliamDouglasCo]

Thanks for watching and we will definitely keep cranking out the videos!

[@draztiqmeshaz6226]

Just what I needed right now. Some confirmation that I'm thinking along the right lines in some ways, and some things I'd not considered.. None of which insurmountable. Thank you brother!

[@WilliamDouglasCo]

I love hearing that. We need to look out for each other! Thanks for watching!

[@CrayFishHandMade]

Well Said ! Keep On Trucking ! To many more prosperous years ahead........

[@WilliamDouglasCo]

Thanks for watching! I will count myself lucky if I can live my life doing this!

[@littleleafwoodworking7868]

I love what you guys are doing. A flight south might be required soon. Also a 'meet your maker' of your team would be really cool.

[@WilliamDouglasCo]

I appreciate that! I feel like most people here have already met us so it wouldn’t be anything special

[@littleleafwoodworking7868]

@@WilliamDouglasCo A video version I mean, for those not local.

[@WilliamDouglasCo]

@@littleleafwoodworking7868 ah yes I see. Not a bad idea

[@BlakePizzey]

Very interesting about the crew not being on payroll. I was always curious about that. I would love to know more about that situation, maybe another video introducing the crew? What their backgrounds are, their 9-5 job if it's not this, home much time they spend there, do they get any compensation? Curious!

[@WilliamDouglasCo]

It’s different for everyone. A few of them come and help when they can and some of them are on a schedule. Some of them help temporarily through a break or summer and some are on staff. I only have one full timer and one part timer. We’ve had so many people come through and lend a helping hand in some way or another. Most of the time they just want to be around what we are doing and some just want to learn. Even Eric donated his time back when I was still in my backyard. He’s now my full time employee. Honestly I couldn’t have done it without everyone. We went through some really rough times these past two years. It’s not just the physical help but also the positivity that comes from them. Keeps my mental right

[@WelcomeFBS]

As always I appreciate you sharing your knowledge and wisdom

[@WilliamDouglasCo]

And I appreciate you watching our vids!

[@Lumberox]

I’m so darn lucky to be here in the Phoenix area just to be closer to you. I enjoyed going to your shop when KM was there and can’t wait for more. Once I get my space, I can’t wait to bring the community into it, and built it with their help.

[@WilliamDouglasCo]

That’s awesome to hear! The woodworking community is a great bunch of people

[@Dan-jq8se]

Thank you for sharing...good luck with your business(s).

[@WilliamDouglasCo]

Thanks so much Dan!

[@KamilKiedrowski]

It's like having Malcom Gladwell narrate a woodworking video. Love the message. Couldn't agree more!

[@generationswoodcraft]

The philosophy behind woodworking and why we do it is so important. Love this video.

[@WilliamDouglasCo]

Thanks so much for the support and for taking the time to drop a comment

[@TinyAcresFarmHome]

Damn, this is amazing information. Definitely a million dollar answer. Thanks for the much needed info. Btw, the video was put out skillfully! Great job on the editing!

[@BudjetBassin]

Amazing Video!Very powerful words!

[@simonvoits3803]

Y’all are taking it up a notch and I’m here for it!!!!!

[@WilliamDouglasCo]

Always trying to get better! Thank you for hanging with us

[@jamesprice4871]

Where can I get that flip board thing?

[@WilliamDouglasCo]

Haha it’s called a Vestaboard

[@elonf6164]

Awesome video! Someday soon I need to head over for a coffee and to check it out in person!

[@WilliamDouglasCo]

Yes you should! You’ll dig it for sure

[@sumosprojects]

Some very valid points mate, here in Australia perhaps a different point of direction is taken as we might be more cautious & use our woodworking endeavours be only supplementary income if we think it to be. It takes a load of planning as you’ve highlighted to have success so well done to your commitment 👍

[@WilliamDouglasCo]

Yes it is not an easy path but it’s a great one. I’ve met so many amazing people

[@takeniteasyfriend]

The best messenger heard so far. Thanks.

[@fiogiana7425]

Love what you and your team are creating! The shop looks so so good!

[@WilliamDouglasCo]

Thank you for taking some of our classes and bringing those cookies!!

[@Thejakegee]

Definitely need to stop by for a cup of coffee. Cool shop.

[@WilliamDouglasCo]

Absolutely. We are open to the public

[@dpepsta]

Thank you mate

[@mijicmugendo]

Great advise

[@WilliamDouglasCo]

I appreciate you watching!

[@SecondSonWoodworks]

Supplemental income is so important and creating a place for artists and fans of the wood experience is essential! Cheers

[@WilliamDouglasCo]

No doubt. This is not only good for business but I’ve also made so many new friendships that I would have never known.

[@SecondSonWoodworks]

@@WilliamDouglasCo agreed! Cheers to that

[@KennyB9871]

Very cool! Thanks for sharing!

[@WilliamDouglasCo]

I appreciate you taking the time to watch!

[@rickdringoli9444]

YOU ARE A WISE MAN....WITH COOL WOOD....

[@steelsunpi]

Good advice. Btw: major misspelling on your thumbnail.

[@colelf69]

Awesome. Thanks

[@WilliamDouglasCo]

Thank you for watching !!

[@alessandrosuppini943]

Great advices, so true what you said Will, engaging the community is key 👌

[@WilliamDouglasCo]

Yes! Community and diversify

[@almostben]

It sounds like the high end custom furniture side of the business just isn’t profitable or sustainable on its own. Which is a shame, perhaps it’s is undervalued.

[@WilliamDouglasCo]

That. Is. It.

[@JayCWhiteCloud]

The comedy and humor on this channel is priceless...LMAO!!!...It will be interesting to see how soon you hit a "million subscribers!!!"

[@timelesswoodworks8680]

Awesome vid 👍🏽

[@OzSafe1]

After spending 20+ years building a successful non woodworking business from nothing you’re right in everything you say. The most valuable lesson I’ve learnt is that you must always give back to the community you take from. Thanks, it was a good reminder.

[@WilliamDouglasCo]

Hey that means a lot. Thank you for dropping the love and validating the message. 🙏🏼

[@reggiejenkins6458]

What does that mean? What exactly are you “taking” from people? Aren’t you just trading (selling) with people? Why the guilty conscious?

[@WilliamDouglasCo]

@@reggiejenkins6458 there’s no guilty conscience. We look at it differently. The people who you are “selling” to are choosing to support you instead of someone els. Besides that, I was more referring to the countless people who have volunteered their time helping me. Most of them were woodworkers and artists that live around here and they just wanted to help and be around what we are doing. So building a place for community is important to me. The community helped bring the place to life.

[@reggiejenkins6458]

@@WilliamDouglasCo you guys are using language like “taking” and “giving back”. I agree if there were people helping you out for free, then there is a debt owed. But the customers? They’re just trading with you of their own free will, evidently they and you both believe it’s a fair trade. That’s the free market, and it’s wonderful. The community? I don’t get what you took originally from the community that imbues you with a need to give back to it. If you have a functioning business, make goods, employ people, etc, you are a clear net positive to the community, barring any other obscene negative community-consuming in your life. I think it’s the fact we have all been conditioned since birth to feel like successful people owe things to the non successful people. It’s basic anti-rich, anti-business, anti-capitalist sentiment. Life gets better when you realize that and break the conditioning. Coded commie-light language just contributes to the problem.

[@WilliamDouglasCo]

@@reggiejenkins6458 I’ve heard this argument many times. I chalk it up into a difference in the way we see the world. I am grateful and thankful. The other way feels entitled. You could be right my man, but it’s my decision to see the world in a different way. A more positive way.

[@iddesignsco]

I absolutely love this‼️Thank you… I feel like this was a personal pep talk 😍🥴!

[@WilliamDouglasCo]

I’m happy to hear it! Thank you for watching

[@reclaimwoodworking7538]

OK, but I didn't come here expecting to cry. That was very rude of you. Your passion is inspiring.

[@WilliamDouglasCo]

Hey thanks so much! It’s good to know that our videos are appreciated 🙏🏼🙏🏼🙏🏼

[@KOutOfMyYard]

Here is the thing, I have never really wanted to live anywhere other than where I do but seeing what you have done sometimes make me wish I was closer. What you have built and continue to build is something that I think all self employed folks hope for. We think of others before ourselves. We think and try to lead by example and we dream big when the world is small minded. Well done. Always enjoy the videos👊🏾

[@WilliamDouglasCo]

Where do you live?! I have only lived in AZ so I am very proud of my city and always try to rep it well. I appreciate the kind words!

[@KOutOfMyYard]

@@WilliamDouglasCo prospect ns Canada out in the middle of nowhere

[@WilliamDouglasCo]

@@KOutOfMyYard I’ve never been to Canada but I’ve always wanted to visit

[@KOutOfMyYard]

Well it is pretty freaking great out here. I have never lived anywhere else either, have traveled through Arizona years before we had kids coming out of our ears. I really enjoy the approach in the shop so keep it up!!!

[@WilliamDouglasCo]

@@KOutOfMyYard we love it and will definitely keep at it! Thanks again for taking the time to drop some love

[@mattelias721]

Will... this is what could be called, "Professional advice art." I put this in my watch later list, because damn, man. Everything - seriously everything - is spot on in what you said, start to finish. And hey, the intro part made me laugh out loud, literally... "...I spent all the monies!" Also, can't hurt to have someone whose nickname is 'Jedi' on the team. Please tell me all the rest of the team has Star Wars/Star Trek nicknames... ?

[@WilliamDouglasCo]

Hahaha thanks so much man I’m glad you liked the vid and were vibing with the message. Glad I got a few laughs as well! KZbin can be a tough crown sometimes 😅 Jedi is dope. Everyone els is now going to be assigned a Star Wars nickname

[@mattelias721]

@@WilliamDouglasCo But you really do make art, both with wood and videos. Don't stop. So many commenters say they want to finally come to AZ and see you... I was born in Phoenix, but now am retired in VA. Last time thru was in 2000, and stopped in the Phoenix In-n-Out for a Double Double (duh, right?) on my way to my next duty station. Please introduce us all to your whole team, with nicknames of course. Definitely vibing here, dude.

[@WilliamDouglasCo]

@@mattelias721 It really means a lot my man! My team really appreciates it as well. It keep us going 🙏🏼

[@scottallen606]

sick shop! love the message

[@BobAbbott]

According to statistics published in 2019 by the Small Business Administration (SBA) and Bureau of Labor & Statistics (BLS), about twenty percent of business startups fail in the first year. About half succumb to business failure within five years. By year 10, only about 33% survive. I'm a woodworker, business owner, and wish you nothing but success, mate. But let's be accurate as we present the challenges we face and what we can do about it.

[@WilliamDouglasCo]

Thank you for the analytics! My channel is designed to inspire and is a little more light hearted. Goal: inspire people and make them feel hopeful and motivated.

[@egbluesuede1220]

Great advice!

[@WilliamDouglasCo]

Thanks for watching!

[@alibaba4063]

Man I would love to be a part of your community, this is one area that I’m really lacking in, community and friends.

[@simonh73]

Great video of what it takes to do what you love. Your monthly walnut bill must be more expensive than a coke habit!

[@WilliamDouglasCo]

Especially with recent increases in lumber prices 😵‍💫

[@cuendetp1]

I know that I will never be able to make it a career but watching this makes me realize that I could at least be part of others' woodworking lifestyles and be part of a community of it.

[@WilliamDouglasCo]

That’s a great way to look at it too

[@JARMade]

that intro ! 11/10 would watch again! .......just did lol

[@WilliamDouglasCo]

Hahaha thanks man!! Glad you like it. We need to catch up soon

[@JARMade]

@@WilliamDouglasCo Yes! i will try to stop by before the month is over a lot of things have change for both of us lol

[@lowranchero]

So let me get this straight, I can rent your truck?🤘 In all seriousness I love what you all have created. Congratulations and continued success🤙

[@WilliamDouglasCo]

I rent out my F150! Not ol blue 😆

[@timort2260]

I get what your saying i truly believe it's mostly true. There's always limiting factors but what ya say is on point at least with my belief. With that said about 4 years in and failing. It's mostly my fault I get that but I'll keep taking that risk because I just want to make cool stuff. Moved into an rv beside my shop both pieces of shit but I can build. And your 100% about that whole aspect of multiple income. Idk if I could justify my truck but wishing you the best dude and you're content is always top notch so thank you.

[@WilliamDouglasCo]

Much appreciated Tim. I’m really sorry to hear you experienced some hard times 4 years in. I feel like I could have went under so many times but I have a lot of support from the woodworking and art community. They fight hard and always lend a helping hand when we need it

[@timort2260]

@@WilliamDouglasCo no worries Man life is good. Well I hope those times are over for yourself. Looks like ya got a lot going for yourself. And looking forward to ordering some of that coffee soon. Have a good one man

[@alicebaladez1930]

Beast! Ily! This was exactly what I needed to hear. The perfect message for me in a season such as this. Lord bless you!

[@WilliamDouglasCo]

This comment will keep me making videos 🙏🏼

[@BryanPCC]

Pretty cool watching your channel and business grow and change. I barely do custom furniture, but I consider most of what I do to be custom carpentry. When I started out everyone kept screaming niche, niche, niche, find this one thing you can do better than anyone else. I just don't believe that's the way. I focused a ton on meeting the communities needs and grew from there. In the next three months I'll build cabinets, built-ins, a small office, a fence, deck, patio cover, restore a 1905 ceiling, build butcher block counters, and trim out 3 new homes. Totally agree with you, community and diversity goes a long way.

[@WilliamDouglasCo]

Yeah I experienced the same thing from a lot of people. Hone in on one thing. That’s a lonely road. If You want to go fast go alone. If You want to go far go together. Honing in on one thing that only you can do really well means you will always just be trading time for money.

[@davidtown6825]

Great Video!!!!!!

[@WilliamDouglasCo]

Thank you for watching !

[@BigHenFor]

This video alone was worth a sub. 👍

[@codacreator6162]

What it says about our society and the state of the market that a talented man with the support of others can’t make it on just one skill is crushing. Working ten jobs to make it with one… that’s not an accident. And it will only get worse. At some point in the not-too-distant future, there will be no more craftsmen, no more artists, no more musicians, no more writers. We, as a nation, need desperately to confront this reality or suffer the consequences. What will we do when all there is is Walmart, IKEA, auto-tune, and yellow journalism? Makes me think of the dystopian predictions of Philip K. Dick, the AI sheep in Do Androids Dream of Electric Sheep (Blade Runner) and several others. I wish you all the best. Your heart is in the right place and the people who’ve invested in you are saints. Much success to you and God bless. The odds are stacked much too tightly against far too many of us, so guys like you must be our champions. Go get ‘em!

[@RJStockton]

Most businesses fail in the first five years because most of them aren't actual businesses. A huge percentage of new "businesses" are actually just holding companies that are set up to handle money for a limited time. Talk to a lawyer about windfall profits or an inheritance, and he might tell you to start an LLC to receive the funds and then invest through that. After a few years, the holding company isn't being used anymore, so the founders let their registration lapse. This goes into the books as a "failed" business, when in reality it was just abandoned because it served its purpose. I don't think there's any good source for how many small businesses are actually real, and of those how many are in business after five years. Once you cut out the short-lived LLCs, however, it can't be all that high.

[@jimmyz1686]

This is beautiful!!!😢

[@WilliamDouglasCo]

Appreciate the love!!

[@MattBedford_Italy]

So, to keep your custom woodworking business going, do something else? That seems sad. Challenging that, respectfully, I've seen lots of businesses go down because people were afraid to commit to it properly. It's "just a side hustle". Then it's gone. Or, the cheap/free labor turned out to be not very good so customers were left unhappy. Is it possible that the other (seemingly ROI-positive) activities are actually a distraction, holding back your business or is it just that custom woodwork is just not very in-demand? Thank you though for the insight and for starting the discussion.

[@mac8179]

Why not supplement your income with more mundane woodworking? Built ins, barn doors, basic coffee tables, etc.

[@WilliamDouglasCo]

That’s a great question. I won’t do work that doesn’t represent us and what we want to make. For every job we take we turn away 9 others. If the mundane stuff is our style I will definitely take it. I did two basic coffee tables not too long ago and charged $6k for them. I won’t do built ins for people because that’s more on the construction / cabinet side of things and I’m not licensed for installs. Trying to stay on the up and up

[@mattmoore1731]

Good job man. Not for me, but good job.

[@WilliamDouglasCo]

Matt Moore? Mateo goods?

[@luliluli1471]

Precisely

[@DarKhanDahar]

Voice is the same level as music, please up the voice volume. You sound low

[@WilliamDouglasCo]

Thank you for the feedback!

[@gjanalog5675]

Good incite, great advice. I take back what i thought of you earlier……..😂

[@WilliamDouglasCo]

Hahah I appreciate that. I think a lot of people don’t like me until they get to know me.

[@sunalwaysshinesonTVs]

TL:DR: to be successful, you need to pay labour as little as possible. I commend the idea of building community, and expect that in truth you do run your business adhering to the ideas as you articulated. However, in in the context of promoting economic ideology and your presentation, the message does seem to be, "figure out a way to get free labour". You frequently speak about "your business". I certainly hope the people who "volunteered" to help build yours get a share of the profits at the very least rather than the no=cost, "get value from your assets" like IDK... get to use your capital investments (aka machines) at no charge on their down-time. Marx wrote about this, labour competition. It's the concept that in a capitalists system, there is always someone willing to do your job for less money.

[@obelusyt]

bravo

[@DaileyWoodworks]

Aww yes, the portfolio piece.

[@WilliamDouglasCo]

Hahah that one strike a chord?

[@DaileyWoodworks]

@@WilliamDouglasCo several… 😑 the $9,000 bedroom suite that should have been $20,000 after I job costed it still hurts. But man! It was beautiful. I wish I’d filmed it.

[@WilliamDouglasCo]

@@DaileyWoodworks oooof that’s a hard one. I have quite a few under my belt as well

[@aaronblackford981]

That’s hella positive and hella commercial.

[@ARMYStrongHOOAH17]

So basically start with with enough money and assets to keep you afloat while you waste time and money learning.

[@TheClayCoKid]

What a fantastic video. You sort of put all my ideas in a package I hadn't put together for myself. Im in a lower income market than where you are. But I believe there is still good potential when community is involved. Thanks for sharing this great video.

[@prof.crastinator]

So to make money: you sell yourself not the furniture. Got it. Where is my damn epoxy river table!?

[@WilliamDouglasCo]

Hahaha yes that’s the spirit 🙌🏻

[@punkrockdave1000]

I will add my 2 cents in and I hope you realize my point. In this day and age of social media following makers like you really helps. The one thing i notice as of late I follow or subscribe or tap that like button I don't get the same love back from people in my field. I honestly believe that it can hinder your progress as a maker. I follow roughly 50 or so makers and I have around 5 that follow what I do. If I had big names saying something or liking something I have done it legit opens up another realm for people like me. I know all to well you can't follow everyone on social media, but this is why you get PR people to do it for you. Like I said, my 2 cents. More whisky drinking in the videos with silly jokes please.

[@WilliamDouglasCo]

I completely hear what you are saying but I can honestly say that there is a point we get to where it’s just impossible. When I get on IG now it’s to post something “hopefully inspiring in some way” and then to read and respond to messages. A lot of them are people asking for help or just expressing deep gratitude and I do my best to respond back with something meaningful. It’s important to me that it is genuinely from me as well. When I’m done with that I usually shut down the gram and don’t surf around unless I can’t sleep. I’ll make it a pint to look you up though. Thanks for the love and sorry for any typos in this 😬

[@draxxx_exe]

Fucking beautiful Will

[@WilliamDouglasCo]

I appreciate that 🙏🏼