I just got an email from Bag, Borrow and Steal the handbag rental people asking me, "Are you on Trend?" and I have to say, no, I'm probably not and I'd like it to stay that way.

Trrrr-end. The whole point is that it's ephemeral; by the time one fashion is ubiquitous it's already the beginning of the end for it.

The web spreads trends far faster than ever before, and globally. So it's easy to keep up with them and often just as easy to latch on and design something similar. This may work if you are a high street fashion chain focused on selling affordable throw-away clothes (whatever you feel about the ethics of that) but it can be disastrous if you're a small studio. Why? Well, in practical terms you just won't have the speed of distribution - even if you're selling mostly online not many people will see your stuff fast enough if the fashion proves fleeting. Far more importantly though, if you jump on a lot of the new fads, then before long you'll be just a copyist, with nothing distinctively yours. Okay, you may make some money from it, but probably not for long, and meantime you'll have missed opportunities to build your own distinctive brand style.

So please, I know it's tempting, but don't get eaten up by the big monster of "currently cool". Find your own way, develop your own look and feel, and have the confidence to be yourself, not a pale shadow of some other artist or designer. By all means be aware of trends and influenced by them - you will be in any case, whether you embrace this or not. But don't follow fashion - find your own style and one day fashion, fickle as ever, just may follow you. At least for a while.

This week, Kunati, a publisher who did fiction and tarot decks (which is why I found them interesting) went out of business. It's a shame, but when they first started up, I said to Alex, "I give them about two years," and I think that was just about how long it was. Quite honestly, that wasn't so insightful - anyone in the industry who paid a bit of careful attention to what they were doing would probably have said the same.

On the surface, there wasn't anything particularly wrong with their tactics and strategy, and they did get lots of attention in the first year or two and even won awards. It all seemed great. But, look just a little more carefully and it was obvious that they didn't know the publishing business (or, for that matter, the marketing one, though that's another story), and were making most of the classic mistakes. How did I recognise this? Simply because we made most of those very same mistakes at the beginning of Baba Studio and Magic Realist Press. The difference is that we made them small, not big. Which is why we survived and still continue to grow.

When you first start out, you may choose to go into a business that you have experience with, or you may decide go into something that you're new to, but find attractive or promising. In the post below, I've talked about the dangers of doing exactly what you were already doing, but, at the other extreme, there are also problems with going into a business in which you have little experience. However bright you are and however much research you do, you're bound to get many things wrong.

So, what are the options? Well, you either start off big, pour in lots of money, make an immediate impact, charge ahead and assume that you'll learn fast and overwhelm some of the competition. Or you start small and cautious, feel your way, be prepared to learn, alter course and change direction and accept that you'll initially be ignored and eclipsed by the "biggies".

Most of the 1995-2000 dotcoms went the first way, they burned through money, got heaps of publicity, appeared to grow fast - and in the end went out of existence even faster. Having been through all that during my London dotcom days, when we began Magic Realist Press and Baba Studio I wanted to go the second way, small step by small step, happy to learn by our (small in financial terms) mistakes and to make many changes in what we were producing and how we produced it. When we were patronised or laughed at, which sometimes happened, it rarely bothered either of us. On the upside, the fact that we were so obviously willing to learn and adapt meant that many great people went out of their way to encourage us and give us sound advice.

Of course, if you have money behind you, it's very attractive to charge right in, get noticed, put out lots of product and attract attention. You could say it's the "look at me" way of doing things and yes, it can work. It's risky though, because if, when people do look, they find your product or service not quite up to scratch, or simply not all that appealing in the market, you've lost them - and thrown the money down a drain. And with your resources spent, you may not get a second chance. I assume it's something like this that happened to Kunati, and it's not uncommon. Think how many fashion or music brands make a huge splash one year and are gone the next.

On the other hand, if you start small, even discrete, then one or two products that don't quite take off in the market won't do much harm, and may even be tweakable to get them right. It's an odd fact that our Baroque Bohemian Cats' Tarot and Bohemian Cats picture book weren't a great success money-wise in their first year - but the deck, the pictures and the products based on them, have done increasingly well since, and now look set to become classics. It just took us a while to understand their audience and market - and we had that time to do that because at no point had we hurled large amounts of our limited resources at it.

Quiet, low-cost, careful and adaptable isn't especially glamorous. But if you want a business that's successful medium-term, and can survive the ups and downs of real-world changes, then make small steps with their associated small, recoverable mistakes. Over time, many little steps add up to a good-sized, sustainable business that feels comfortable in its own skin, and never has to scream, "Look at me."

I'm not sure why rebounds are on my mind. Maybe I once finished a relationship in August once so it could be that this weather brought back some vague memories? But for whatever reason, I began thinking about starting a business in a recession and why you shouldn't leap into any business on the rebound.

Perhaps you just got fired (it's happened to us all) or your company folded or laid off a lot of people. Or you just feel that it's now or never. One way or the other, there's an understandable tendency to panic, and to jump right into looking for another job and/or starting a business. It's certainly the way I began my first "serious" business - in a state of sheer panic.

But be careful if you do this. Like the relationship on the rebound it may lead to all sorts of poor decisions. If you leap straight into a new business you'll tend to:

• Build the business around what you already know.
• Build it around what you already do.
• Try to set it up in a way that's familiar and easy to manage.
• Do things in a way that feels safe.

Now those things aren't bad. But they may not be optimal. When I began my first full-time business (a multimedia consultancy) I did it so that it looked like my former job in miniature. But now, looking back, I realise I would have done better to have stepped back and considered some slightly different approaches and tactics. Long-term, that would have worked much better and I would have left myself much more free to respond to the rapid changes in that field.

With Baba Studio, it was quite different. We took time - maybe too much time - and gradually felt our way, trying out different products and ways of working. As a result, it's nothing like anything I've done before (well, okay not since my teens - I was designing and making clothes for London boutiques from the age of 15 during my school holidays) and it feels both more solid and more fun than a more familiar business "in my specialist field" (which was in fact web/internet consulting) could ever have been.

So, you're about to be forced into starting a business because other things aren't working out. And you want to tell your friends that it's all up and running and you want to sound sure and focused and confident. Fine - tell people whatever reassures them. But privately, make yourself some time and space to think about broad possibilities - and leave your options flexible. You'll find that over the first year or two you may see all sorts of new directions opening up and you'll find the business that's right for you, rather than the one you grabbed in a rebound.

I had a conversation with a financial guy this afternoon - he looks after my pension matters. "It's all so irrational" he said, talking about the way currency is going up and down so wildly nowadays. He sounded tired and worried.

When things are chaotic and unpredictable, as they are right now, the important thing is to be able to change aspects of your business fast - not in a panicky way or daily, but at least with speed and decisiveness when it's needed. We set up our new online shop in Euros last year as we could see the need for basing our prices on Euro as it's more tied to the local currency. But we also knew that many of our customers like to shop in US dollars, so we also expanded our Etsy shop (it's USD) and installed an online currency converter right from day one of the new Baba Store. This last year, we have adjusted our pricing according to currency, bought silk in dollars when the dollar was way down, changed our non-US wholesaling prices to Euro-only when the Euro seemed the more stable currency. Almost every month, we did something to respond to the changes sweeping through the economy.

If we were a corporate, or even a large private business, can you imagine how many committee meetings and strategy documents and redeployment of staff moves like that would have taken? As a very small business, you have a huge advantage right now. Use it. Be swift.

One thing I've been doing while I've had some time off is to think about the world I want our business to sit in. This comment on an earlier post helped me to crystalise this.

Right now, we sell, or potentially sell, in various contexts:

• Fashion - we're mentioned often in places that have nothing to do with esoterica
• Art - some of our work is viewed as art as much as its design (we were once asked to repaint some images on canvas and sell them in a gallery - hmm)
  
• The tarot community
• The "cats" community - actually, we are almost invisible as yet in this one and should probably be more involved
  
• The wider "New Age" interest groups
• Czech design - again, we are not yet really part of this. Perhaps it would be distracting if we were - and could change our work in ways that wouldn't be good.
  
• "Alice" fans

and so on. And, from a slightly different perspective:

• On our own shop as Baba Studio (where we're often seen as larger than we really are)
  
• On Etsy - which has entirely its own aesthetic and where we do not fit with the amateur look that's preferred by the admin there. We fit, but we are not "in" this group in the way that some sellers are.
  
• On Trunkt - it feels like we fit quite well there - but then, what IS Trunkt exactly?
  
• On Notmassproduced - again, another aesthetic. Very sweet and designery but virtually invisible as yet, so we don't try to adapt to fit in, though we're happy to be there.
  

it could go on and on - we're at lots of other online and B&M venues.
Plus we are seen as European, Bohemian - we are geographically in the old physical region of Bohemia, Prague-based, English-language based (but Russian buyers know we speak Russian and accept payment by Western Union)...

Perhaps it would be best drawn on a chart rather than simply listed, as several of these interact or overlap.

All these define a world - or maybe in Seth Godin's terminology a "tribe" that we to greater or lesser extent fit into. Part of my focus right now is deciding which of these we want to be more involved in, what new contexts we need to consider and - and this is quite important - which limit us and which expand and enhance our work.

It's vital to know where you fit right now, and where you want to fit. It's also important to look at where you are now, how you are influenced by those groups and contexts and to ask yourself if any of them are holding you back. I see sellers on Etsy time and again becoming obsessed with becoming known and liked on Etsy. But changing your business to fit with an Etsy trend may be disastrous in the long-term.

I also see people in other worlds limit themselves in a broader way - tarot designers that end up doing nothing but that, when they could be moving into other work - illustrators that become so much recognised as "cat artists" that they can't try anything else. Jewellers that get stuck in one type of look and medium, even when you wonder if they should experiment with new ways. Writers and musicians defined by a genre, rather than defining it. I see designers focused so much on being "cool" or "alternative" or - the new fashion - "handmade" that they end up looking like everyone else in that tribe.

Of course, the need for a clear brand tends to propel you into a niche - and being identified with a well-defined niche or tribe can really help your business. But what I'm saying is, be clear about where you want to sit and understand that you need to take control of this, not let it take control of you.