Business Matters

Last week was really been all about working hard on the small business that I run from home and trying to make it more profitable.  I've been neglecting it far too much of late and treating it far too much like a hobby which has had it's consequences.  Well no more.   I've even started thinking  ahead to Christmas this year and starting to prepare for the busy time that usually occurs in the lead up.

I figured if I could order my stock, materials and stationary requirements now, this will help me to hit the ground running when things start to get busy after the summer holidays.  This will also allow me to fully capitalise on the run up to Christmas, which I failed to do as well as I could have done last year.  So, I've had a busy week ordering stock and stationery, whilst paying more attention to the business as it operates on a daily basis and trying to capitalise on daily/weekly sales too.  I must admit that it seems to be paying off already after just a few days of effort, and I am really pleased, yet annoyed at myself for getting distracted by other things in the last couple of months. I have even managed to research some new lines and marketing strategies for them, which is quite exciting.

All of this has meant some expenditure, of course, but I have tried to keep this to a minimum and hopefully it will be recouped over the next few months.  In addition, from September, my business bank account is going to have a monthly charge levied of £5, which although does not sound much, does make a difference to outgoings.  It is an extra £60 per year that I will have to pay out that I didn't previously.  As we all know everything is going up in price all of the time i.e. stock, postage, etc. and this has to be passed on to customers, otherwise profits diminish even more or become none existent.

I am fortunate in working from home that I don't have the overheads of people who work from a rented office, shop or market stall.  It must be hard to survive out there at times like this and remain competitive when many people are watching every penny.  I must admit that I try not to charge silly prices for the items I sell and try to give good value for money, whilst still making a small profit.  I am not greedy and  aim to provide a good service too of course.  Hopefully I'm getting back on track.  I'll keep you posted.