Millionaire Challenge

I'm sorry about your Mum; you never know when something like that will strike or how quickly. The only answer is to try and have the best time you can every day, in case it is the last, and I'm convinced you do that. And I'm impressed with the way you make the very best of every moment, hope you get to Italy before too long!

Kay - sorry to see you so down in the dumps.

It's tricky isn't it.

There is a school of thought that says that if a business is not making money, then it's a hobby. If the business is running at a loss, then it's an expensive hobby.

However, there is another school of thought that says that when starting a new business or enterprise then you need to have sufficient funds to allow you 12 months to turn it into profit.

I guess you just need to mull it over and decide whether it's worth persevering in the long run or whether you would be better knocking this one on the head.

15 hours of effort is a lot of time if you are not reaping a financial reward. If you are spending that time indulging in a passion which feeds your soul - then that's another matter. Nothing wrong with spending time doing things that give you pleasure - in fact I think it's essential to a happy well balanced life - it's all about balance.

A very wise lady once said this to me.

Remember our children are not ours to keep, they are only lent to us. They only have one childhood. Blink and you'll miss it.

Of course you want to build a business and/or a career and yes of course you want to spend as much time with your children as possible. There's the dilemma.

If your business is draining you of all your time and energy but giving you a lot of hassle and little financial reward then perhaps it's time for a rethink. A different business perhaps, or at least a different business model.

I've had to do this a couple of times in the past, especially when the children were young. In my case I always chose the children first and put my own career or business interests on the back burner. Luckily my OH earned decent money so I could afford to dabble and play the dilettante. I appreciate that it's a completely different ball game when you seriously need the money.

I very quickly came to the conclusion that my jewellery making was not really a viable business, it was a little hobby that bought in a few extra pennies at Christmas time. I keep it as a sideline for when I have time (ha!!!) but I don't depend on it for income. (I'd starve:rotfl:) It's a hobby.

In a similar vein I have completely given up with selling on Ebay and the like. I now delegate those kinds of sales to someone and give her a share of the profits.

She's a SAHM so it's good for her. I don't have the bother of it all but still make a bit here and there. Neither of us are going to get rich on the proceeds but it's just a bit extra in the pot.

I also found that car boots were less lucrative than they used to be so I am slowly getting rid of most of my "stock" - either through my lady or if it won't sell, then just giving it away. My better items I just send to the auction house. Again yes, I have to pay commission, but it is a real time saver. If it's something I'm unsure of then I just put a reserve on it.

On the face of it your accountancy seems like the best bet for now. You've worked hard to pass your exams, your part time work gives you some income, and you are protecting your further career aspirations.

Your ebay business is taking up a lot of time at the moment for little reward. Perhaps look at that again and see if you can either re-structure or take it in a different direction - different products perhaps, maybe larger ticket items with better profit margins.

Tbh retail is not really my forte so can't really give any detailed advice on the nuts and bolts.

Keep your chin up.

As Mr McCawber always says "something will turn up"……..;)

A lot to think about really. I think I need to stick it out till Christmas ~ when I first started this business in Oct time my sales were almost double (and for saying I just started) and I think I owe it to see how it goes during winter as I have faith sales will rise.

It really isn't worth it for the hours I put in but one way to look at it is if it takes me 15 hours a week* to make £100 a month*..it's £100 I've made around the children without having to leave the house & I can fit it around them rather then having to go out for the full day. (Not that I feel like I am seeing any of it but tbf I have brought a lot this year in terms of machines laptop printers...)

I think it does need knocking on the head...but I guess for now it suits our lifestyle. I think I will put a pin in it until January.

I spent a few hours this week devoted to my seasonal Oct/Nov sales and my listing is up and ready to go, need to spend more time doing packs of them on another listing, as I have done a massive listing of 30 designs but all singles. Only 3 months to go till Oct/Nov sales...but may as well be prepared!

Plasterer finally finished on Monday. What a marathon that turned out to be.

We are now on the big clean up and trying to get straight but without hot water it takes some doing;) boiling kettles is so primitive, dahlings. At least the shower is electric so it's not all doom and gloom

I ache in places where I didn't know I had muscles:eek: I am also haemorrhaging cash. :eek:

Had to buy new cookware because my old pans were not induction compatible. Mind they were over 20 years old so I guess they don't owe me anything. But of course induction compatible pans cost a lot more than ordinary pans. Good job DS2 got me a 20 per cent discount. It softened the blow a bit.

Having said that Tonight I experimented with my new steamer and did quite well. Hopefully it will encourage me to save fuel and keep the bills down.

Many a mickle maks a muckle and all that.

Never mind it will all be worth it in the end.


And if it isn't then it's not the end.....

Hello Guys :-) Not heard anything from my offline order yet ~ perhaps my stupidly long e-mail put her off or now that she has the details she is waiting for the right time idk...she seemed genuinely interested but means nothing really.

Had a fantastic weekend ~ sold loads of my wedding line on facebook no less & also had a £60 order on eBay which 1/3 was profit...ok it may only be £20 but it all adds up and to top it off someone on FB brought 30 items in one go (mainly they buy 3-4) and because I had stated my single item price she paid full whack...if she had said 'I want 30 how much?' I would of given her a good deal but she said how much for extra? So I gave her a price for an extra item not another 25!! (She'd asked for 5 originally)

Chuffed because 2/3 of that was profit and it took so much less time then the first order on eBay

I've also donated 5 items to a local charity I am now following and they sell them at double what I sell on eBay Can't blame them I guess lol

I'm also moving up the 'office' into the 2nd bedroom very soon, in fact some stuff is already up instead of half my front room. It means I am basically taking the room of my 2nd child (10months still in our room) but I do feel it will be better for both of them me being out the front room as currently I block the back door off (we have two but the other one is all the way round the house) and I am taking up half the front room with all my 'stuff' and my eldest is constantly trying to get round the back of the sofa.... I do think we can have the back door open more this way and DS1 can roam outside

I am *hoping* that we will move in next couple years but if we don't I can always squeeze into our main bedroom somehow so he can have his room back.

You guys have really got me thinking. I was practically ready to throw in the towel and without meaning to you guys all kept saying I was 'starting up' to me...I wasn't starting I was a proper (but little) business and I would never of thought of it this way, I have done A LOT of research this past week, I've got loads of listings up (I am hitting just over 170 now) and I am looking into expanding my lines which is another reason for wanting more space.

Thing is you guys are right I am just starting up ~ and I need to put a lot more time and effort into this business if I am going to make it work I've been sailing along at a really slow pace thinking that because I am on eBay the orders will come to me (in a way they do) but my competitors work hard to get the sales they do and I've noticed with my research that they keep up with the news as well to chip and change their lines to suit.

Sorry I know I am rambling on...I've been rushed off my feet all weekend and now I have some down time I can't sleep Typical.

I reckon I need another 300-500 for the next main product so I will just keep pushing face book sales and I get 200 free listings a month so I want to hit that 200 mark soon...then I can start trimming the fat of the worthless listings.

I have a bit of a dilemma as I've been selling these printed items for about 2 years (before I really started my current business) you can fit 2000 of them in a small box and cost me £400 , and I'd make £600 profit back over two years, but I'd have to write 2000 envelopes to make that £600, plus all book keeping / ebay questions that you don't really think about plus it's going to be a major set back for me on buying my machines for my main products... I worked out that it brings in something like £30 a month profit...but then they are so easy to just stick in an envelope and send off... down to my last 80 and so I need to decide fast as I can't let the listing die if I plan on selling more as I'll lose my extremely high place in the listings