When you are running a business it’s really important that you track the improvements. Over time you may not see the subtle improvements that mean you are moving in the right direction. It used to be that 3 years should have eventually given you a financial profit. Now it’s 5 years.
And no matter how you do it, it’s important to make money because that is how you build the foundations of improvement and expansion. It may be that you have a second full or part time job. It may be that you have sufficient savings to invest in the turnover. It may be that your sales strategies are top notch.
I am one month into my third year. In my first year I scraped by on just over £900 profit overall income. In year 2 that had risen to nearly £4500 using less than half the same savings input but taking on a couple of non related part time temporary jobs. In year 3 profit projections suggest I may be paying some tax in 2015 in part thanks to working tax credits and a relevant part time job I am about to start for the next 5 months.
This is the kind of inspiration I need right now. Because to keep that kind of money coming in I have had to sacrifice a little of my artistic development. At this stage of the game I’m not too worried about that. Having second jobs is not unusual and I am still within my safe zone for this to be reasonable. I do have space to do the creative stuff I want and honour my client commitments. Taking on a little bit of everything keeps things fresh and doing a job in another company keeps me social and stops me getting stale – a very real problem when you’re a one man band on limited income.
Shake up time comes at the end of the year when I relocate from Lincoln to somewhere with a more suitable client base to make design and direct sales the focus of my business again.
You see, it’s all a learning curve. You have ideas, you make mistakes, you get lazy and you can lose your drive. But you can also turn it around with the right interjection and sometimes you just need to see the successes in black and white to help you along.