Starting your own business is really hard work. It's a huge undertaking. We knew it would be hard, but we had no idea how hard it would be exactly when you are responsible for you and anything else that needs to be done. More than anything, the business has taken time from both of us. We invested a huge amount at the front to sell the business.
So far, the business has spent $18,350. It has grossed $10,468. (Thanks, accountant!). I can see the light at the end of the tunnel. Lots of shipping this week. Contracts were signed, checks are in the mail. Things are going well.
After all my hand-wringing about the business not making money, I think that is changing. I think the business is going to be solvent in the next week or two. Woo hoo! I'm so proud of the business. Making money doing what you love is a HUGE accomplishment, one that many people never see. We need to do something to celebrate it.
I asked Fiance what he wanted to do when the business made money. I expected him to suggest a fancy restaraunt or a gadget. Instead, Fiance said he wanted to take a little road trip to a kind-of close B&B. I thought that sounded lovely. So, hopefully, we'll be going on a little road trip in the next few weeks to mark and celebrate a momentous victory.
8 comments:
Just because the business makes money one week or month doesn't mean it won't be back in the red soon afterward. You seem to be living in the moment or getting ahead of yourselves. And you're using this temporary profit in the business' P&L to justify spending money. I think any celebrating has already been done in purchasing the expensive car for your fiance or taking that trip earlier in the year that you really couldn't afford. Weren't you just lamenting a few days ago that you haven't made the progress with your money during the last six months that you expected to! How about just having a nice dinner at home to mark the occasion.
Any extra money should be set aside for times when money may not be coming into the business or to buy your fiance some much needed health insurance since it sounded like he didn't have any.
I'm wondering what kind of long-term projections you have for cash flow for the rest of this year and next?
Barb1954
I wonder what do you do for living to make so much money because seem like you make really stupid choices when it comes to everything else.
Good job. Keep us updated on what happens.
Hope you get fiancee health insurance.
I agree with some of the other comments being made regarding the business. While I disagree that it's a good thing to go into debt to start up a business, at least it's reducing the deficit. You even stated yourself that the business wasn't making money before, but now it is. Since it's rolling along smoothly now, you're starting to predict continued success. I would be careful that you don't jump for joy too soon. Instead focus on the positive growth and get rid of the debt. Once the business has some retained earnings for the slower months, then it will draw an income.
Instead of going away, maybe you should save it or pay down your debt. This is the time to be prudent in your decisions, and to not spend what you dont have. Good luck. Always pay cash for everything.
Why don't you take the money you would spend on a get away and put it toward your debt?
I agree put the money that comes out towards your DEBT ... I think if you wanted to get out of debt you would understand taht you need to put money towards it!! CELEBRATE WHEN YOU ARE NOT IN DEBT! ONCE YOU ARE completly out of debt then save for at least 3 months THEN go to that B&B!
I was contemplating maybe a $200 trip. It's not an expensive vacation, for sure.
But it doesn't matter because all our weekends are booked for the next 4-5 weeks between my job and his job and another wedding. So, even that $200 one-night trip is not to be.
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