Saturday, January 04, 2014

The Business Chat - Stop cheaping out.



“Wow, if I only had that tool! I just know I’d be able to make my work so much faster and better. Maybe I’ll have the money later.”
“I’d love to learn how to do that! It would be great to be able to improve my work skills.  But it’s $60, I just can’t afford it.”
“My own website? I know I need one, but it costs money to get hosting, and I just can’t afford that. Someday.”
If I had a nickel for every time I hear something like this I’d be able to afford everything that I want right now. 
Guess what people? Businesses cost money to run. 
You have to spend money to make money. If you thought that you were going to start your micro business on the change that you found in the sofa cushions then I’m here to rain on your parade. Maybe you can start a business for $6.11 but you can’t sustain or grow it. This is a hobby. 
Spending some money to grow your business is the difference between a hobby and a business. 
*Remember, when I talk about a business I don’t mean it has to be a full-time enterprise. Your business might be a tiny one based out of your hall closet with annual sales of $1,000. If you have any sales at all (even $10) then you have a business. 
Imagine an electrician saying “hey, I’d love to voltmeter but I just can’t afford it.” Or a coffee shop saying “gee, we really should have napkins, but they cost so much!”
No one is going to mistake an electrician or a coffee shop for a hobby. They are businesses. 
There will be tools and supplies that you need to buy, and classes that you need to take. Of course you won’t have the money for everything exactly when you want them. You need to decide if you really really really need something and if you can’t afford it right now then you need to decide when and how you are going to buy that something. 
I totally get that money is tight sometimes. (or all the time). And if you are just starting out, or keeping your microbiz small then the idea of spending a big whack of cash on something is hard to swallow. Not to mention the car needing new brakes, the washing machine dying, the kids needing new coats, or the dog’s vet bill. Life happens. But life can’t stop you from succeeding in your microbiz. Always cheaping out will stop you from succeeding. 
If you truly don’t have the money, then decided when you will have the money. Then find it. 
“Later” is not a timeframe, it’s a wish. Later doesn’t happen. April 1 is a timeframe. April 1 happens. Or October 15. Or when that class starts. 
Once you have a date then you will find the money. Maybe you can run an extra sale online. Maybe you can hold an open house to sell some work. Maybe you can put some money aside every week. 
Here’s a DIY tip on finding some money for your micro business. 
Get yourself a piggy bank. Jars work well, or any sort of container with a slot. (I prefer one that I can’t see into, less temptation to raid it.)
Every day drop one twoonie into it. Every. single. day. 
Open the piggy bank every 3 months. 
Every 3 months you will have approximately $180 to buy things that your microbiz needs to move forward! Web hosting! Classes! Tools! 
You will not miss a twoonie a day. You will enjoy buying those special things you want. 
If you had $180 today, what would you buy to grow your business?

5 comments:

sew.darn.quilt said...

Thanks for the kick in the pants!
Two bucks a day is doable, even if the kids do need something!

Ruth said...

What's a "TWOONIE"?

dragonjools said...

Here in Canada, we've switched to coins for the $1 and $2 dollar denominations. The $1 coin was issued first and features a picture of a Loon on it, a wild bird of some emotional significance to most Canadians. It picked up the nickname, Loonie.

When the $2 coin was released, it featured a polar bear, but picked up the name Twoonie, or Toonie (pronounced Two-nee), as in Two-dollar-loonie.

Although there were some jokes that it should have been called the "Moonie" because, after all, it has the Queen on one side with a bear behind.

;-)

Bijoux Gems Joy said...

Nice to see readers outside of Canada :-) Welcome to our world of pockets and wallets heavy with coins

Bijoux Gems Joy said...

Nice to see readers outside of Canada :-)

Welcome to a world of pockets and wallets heavy from the extra coins. It's amazing how quickly they pile up.

Loved the kick start too!