Friday, 19 September 2008

my credit card is so hot it may melt

There it is, the shameful story - the story of my stash. (All right, not all of it. Most of it. Half of it. As much as I could grab when I took the photo okay?). I hadn't realised how much I'd bought over time, not at all. I was only inspired to find out and take this picture when I was adding up the figures for my upcoming first ever tax return. Month by month, page by page, I took away the provisional figures for my expenses away from the provisional figures for my turnover. And the result kept coming up red...

If I hadn't bought, oh, two thirds of this little lot, then the figure might have at least scraped into the black. And the thing is, I could still have made most of my inventory, while cutting my expenses that far.

Well, I think that's more than one lesson learned!

  • Lesson 1: KEEP A ROUGH RUNNING BALANCE FOR YOUR INCOME AND EXPENSES and PROFIT. Don't just start plugging all the figures in at the end of the year!

I don't have to tell you, right? You've never been as dumb as that? Unfortunately, it appears I do have to tell ME! And not only that, but to act on it as well. From now on: I must know where my business finances stand. All the time, every time.

  • Lesson 2: I CAN'T AFFORD TO BUY MORE STUFF: not till I'm back in the black, anyhow. Therefore: until that point, all craftiness must result from my EXISTING stash. Now there's a little jabbing demon, sticking a pitchfork into my calves to prod me into prodigious creativity. Yes! I am inspired!

Now: to not only learn these lessons, but to hold fast to them. I challenge myself, here and now.

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