Mooloo’s Managing it in 2018

Savvy_sewing · 1 February 2018 at 8:09AM

Morning from a very tired Moo!
I spent the evening with my diary, and a bit of Kiri on TV. While writing the diary I was looking at the budget for February, and doing some forward cashflow figures. I must be able to pay myself £450 this month coming or I will run out of money before the month is over! It is as simple as that.
In the business I have gone well into overdraft today, paying the months rent. It is going to be a struggle unless I get the money coming in faster.
I am going to have to be more productive each day, and get the work in done a little faster, and I am going to have to try and sell more machines, and stock to up the anti.
I may even have to cut Biggests hours. I am not going to be happy with that, as she has been making a good different to the Shop sales. But the forward cashflow is skin of the teeth, and I cannot see another way to reduce outgoings other than that. I have not managed to pay myself for a couple of weeks. January cashflow is always iffy. I have not quite managed to save enough yet.
Some serious juggling, sales campaigns and pushes for lessons to be signed up for is necessary.
I have to focus on the business and not on family problems. Or I Will not have a business to sell eventually!

Savvy_sewing · 1 February 2018 at 9:38AM

Miracles required now!

beanielou · 1 February 2018 at 11:03AM

Oh dear.
Is it maybe time to revisit what you are doing shop wise?
Only paying yourself 450 a month must be way under the minimum wage.
Is it really worth all the stress?

Savvy_sewing · 1 February 2018 at 6:53PM

beanielou wrote: »

Oh dear.
Is it maybe time to revisit what you are doing shop wise?
Only paying yourself 450 a month must be way under the minimum wage.
Is it really worth all the stress?

The way I feel today? Nope!
I would love to pay myself minimum wage!

Little_Miss_Winner · 2 February 2018 at 3:00AM

Sending Hugs.
January is always despressing at the best of times.. try and stick with it if you can. February already ..
Spring and Summer hopefully around the corner!
Hugs xx

Savvy_sewing · 2 February 2018 at 8:12AM

I spent all evening on the laptop updating the accounts.
I looked at the sales sheets etc and as soon as I get more ink for the computers I will change some layouts etc.
Normally we just write the sales down and we tot up the sheets at the end of the month. I noticed that there is a discrepancy between the money banked and the list, luckily we are banking a little more than the list, so I think we are forgetting to fill out the list when we are busy.
So I think to bring back the focus I am going to cash up daily. Then we can
see the discrepancy at the time.
I want my sales sheets to be more accurate.
The sales of Habadashery are going up, the alterations are around the same as last January. But my outgoings are much higher, hence the cashflow problem. I am going to have to find ways to even things out.
BF actually cooked the stir fry I had put out for dinner! He rarely ever cooks in my house but he could see I was busy. Bonus. He coughed and snuffled through the evening but wouldn’t take any colds and flu medication- he would rather suffer with it because too many tablets make you immune he said. Think that’s antibiotics but personally I am happier feeling better and functioning thank you very much.
Dgd is still not well and went to bed before tea! So this morning when I wake her in a minute I think we may have the decision about School versus the bed at work!!

Savvy_sewing · 2 February 2018 at 9:03AM

Yep Dgd is unwell now. So no school and coming into work with me today.
She’s very flushed, full of the cold and the shivers etc. We have at least got the heating upstairs fixed. There is a futon bed and covers, so hopefully she will sleep. Lemsip at the ready...

Slinky · 2 February 2018 at 10:30AM

With your daughter in the shop are you more geared up to getting money up front now Mooloo?

MankyVegSoup · 2 February 2018 at 3:52PM

Hi Mooloo

I've been lurking on your threads for a while and so admire your determination. I'm also self employed so know how hard it can be - especially in the slow months.

If your expenses have gone up and you've trimmed them as far as you can, then realistically the only option left is to increase prices. When was the last time you upped them? It doesn't have to be much but 20-50p per item could make a difference to your profit (and I bet your customers will hardly notice).

Do make sure you're not under-selling yourself.

thorsoak · 2 February 2018 at 5:57PM

My suggestion may be far too simplistic to be effective, Mooloo - but when you price up a job, do you charge labour at £7.50 per hour, or £15.00-£18.75 per hour?

Mooloo’s Managing it in 2018

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free