Showing posts with label business. Show all posts
Showing posts with label business. Show all posts

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.