We recently connected with Joshua Stone and have shared our conversation below.
Joshua, thanks for joining us, excited to have you contributing your stories and insights. What’s the best or worst investment you’ve made?
Reflecting upon my experience as a business owner, particularly during a period of stress and transition, I have come to realize that one of my least favorable investments was the acquisition of a laser machine. In early 2020, as my newly established business was beginning to gain momentum, I found myself inundated with orders that required personalization on stove covers. In an effort to meet the demands of my customers, I embarked on a search for a CNC machine, but soon discovered that my limited space in the garage precluded me from acquiring one. Hence, I decided to invest in a top-of-the-line laser machine, despite its size limitations.
While I did manage to use the laser for a year, I soon realized that it was not sufficient for my growing business needs. Unfortunately, due to my inability to return the machine and my subsequent purchase of a larger CNC machine, the laser machine became obsolete and I had to sell it at a significant loss.
In hindsight, my experience underscores the importance of taking time to carefully consider business investments and their long-term feasibility, particularly during periods of high stress and limited resources.
Awesome – so before we get into the rest of our questions, can you briefly introduce yourself to our readers.
At just 16 years old, I discovered my love for woodworking and the beauty of joining wood. It all started with a job framing houses, where I learned the art of straight edges, strong corners, and choosing the right tool for the job. Over the years, I dabbled in various fields but the desire to create unique custom pieces never left me. And so, armed with a few power tools, saws, and hammers, I began building projects on the side from my normal job out of my garage in 2018.
Before I knew it, word spread about my designs and the demand for StoneWon Designs grew exponentially. My garage became a fully-functioning woodworking production facility with table saws, grinders, planers, and even a dust extraction system. I hired a few employees, but the space was getting smaller and smaller as the jobs grew bigger and bigger. It was clear that it was time to expand.
In the summer of 2020, StoneWon Designs moved to our current warehouse location in McKinney, where we now have multiple workstations and six employees. My love for animals and plants inspired me to start building dog bowls and planters, which eventually led to oven covers, chopping blocks, kitchen décor, wine and cheese boards, and so much more.
At StoneWon Designs, we pride ourselves on our unique, minimalist, and modern style, and our use of natural hardwoods and combinations of hardwoods . We offer a wide variety of products, from intricate custom pieces to practical additions to any room, garden, or office. All of our pieces are space saving, or multi functional designs. Our commitment to quality and style has caught the attention of high-end outlets and has made us one of the most unique stores on Etsy.
You can find us on our website or on Etsy. Whether you’re looking for a stylish addition to your home or a custom piece, StoneWon Designs has everything you need to elevate your space.
Let’s talk about resilience next – do you have a story you can share with us?
Disaster struck. In early 2021, lumber prices went through the roof and prices went up 500%, we couldn’t get some of the raw materials we needed due to policy changes out of our control, and our customer base saving money instead of spending. As a team we were devastated, but we didn’t give up. Instead, we worked tirelessly to figure out ways to become more efficient , get rid of products that didn’t make us the money we needed, and create smaller products that didnt cost as much to ship for free. Even though it meant taking on extra work and working longer hours to make up for our inefficiencies.
Through sheer grit and determination, the team was able to get StoneWon Designs back up and running more profitably , and creating beautiful, custom pieces once again.
Despite the challenges the team and I faced, we never lost sight of our passion for woodworking and our commitment to quality and style. We had to let some employees go that didn’t understand this vision unfortunately.
The ones we kept And because of their resilience, StoneWon Designs is now stronger than ever, ready to take on whatever challenges the future may hold.
Can you talk to us about how your funded your business?
As an entrepreneur starting from scratch, I had to be resourceful and relied on credit cards and second-hand tools to bootstrap my business. Despite the financial challenges, I was able to establish a solid credit history and gradually build up my business credit. While I wish I had other options available to me, this experience taught me valuable lessons in financial management and the importance of making sound business decisions. In retrospect, I recognize that my reliance on credit cards resulted in avoidable fees and was not the most ideal path to take. However, through persistence and hard work, I was able to overcome these hurdles and position my business for success.
Contact Info:
- Website: www.stonewondesigns.com
- Instagram: https://www.instagram.com/stonewondesigns/
- Facebook: https://www.facebook.com/StonewonDesigns
- Twitter: @stonewondesigns
- Other: etsy.com/shop/stonewondesigns https://www.westelm.com/search/results.html?words=stonewondesigns