Lori Henry is closing her L Knits business.
Read the press release below.
Hi, Creatives –
I’m excited and a little nervous to share this post.
As my creative crafty family, I love being a part of your entrepreneurial journey. In the spirit of change and growth, it’s important I share my next steps with you.
I’ve been in the process of leaving the yarn craft industry for the past few months, and THIS my last L Knits Facebook post.
This has been a tough decision for me. It’s been hard to imagine how I could say goodbye to so many people who have supported and encouraged me and allowed me to share in their business building journey.
I’ve had to deal with letting go of an industry I love and address my fear of taking new risks. I know I have to listen to my heart even if it’s leading me down a different path.
The changes I’ve experienced over the last few years with L Knits have prepared me for this moment. This shift has been one of the hardest because I had to address my concerns about being able to provide a for me and my family and that can only happen by taking a chance on my work and looking at it in a new way.
I trust myself and know that I can figure this out by creating a new dream. Taking action from that space is pulling me forward and my passion to help aspiring entrepreneurs will not let me do otherwise.
I’ve been working on something new and will launch it in the new year. I have so much gratitude for all that I’ve experienced and look ahead with enthusiasm for what’s coming next.
Thank you for embracing this new chapter that will allow me to share more of my full self. I would not have this opportunity without you and the incredible yarn industry.
I love you dearly.
The Two reasons I’m closing L Knits:
Lack of Profit
Revenue is not the same as generating profit. As an entrepreneur, you must keep your eyes on profitability at all times. Profit allows for growth. According to Small Business Trends, only 40% of small businesses are profitable, 30% break even, and 30% are losing money.
Depending on a Narrow Niche
Many businesses successfully launch with the support of a small group of people, and while it’s surely important to satisfy your audience, depending solely on a narrow niche can lead to business failure. Businesses have to establish a brand that grows and evolves by reaching out to new customers on a regular basis.
L Knits Closing Details:
- LKnits.com website will shut down in a couple weeks.
- My Facebook page will disappear in a couple days.
- I’ll leave Pinterest up for a little while but it will be gone by year’s end.
- You can still reach me at LKnits1@gmail.com until the end of the year.
I wish you all the very best in life and business success and I thank you for your love, encouragement, and support and know that I’ll be seeing you around the online world.
Always Sticks & String,