Millionaire Challenge

Kayalana99

Hopefully your Mum will be on board that sounds really good for them. I've hit another cross road... found another machine.

Now my first machine I was on about I still want - but it is going to cost me £1000-1500 for one product so its to the back of my closet for now and to be honest its not really safe around the kids (saying that the 2nd one I am using open ink I got the impression off the site that its not 100% safe to be breathing in the fumes so I will look into that since it would be in same room as kids...)

My business is going really well, I spent most of last week going through every listing editing my postage - I now send second class instead of first (with the option of paying extra for 1st class) so I have basically doubled my profit margin on Product 1, product 2 isn't going as well as I hoped admittedly but I think if it sells slow its still extra money coming into the business & my father said he is going to promote them for me a little to sell business to business...so fingers crossed product 2 might be worth while if that happens.

This second machine does loads of little products but would be a ball ache to set up for each product (would be sold business to business in min quantities only)

Thing is I am earning a decent 'side income' and someone who just sells product 1 has a full time business 2000 listings etc...where as I have 150ish...so the decision is do I stick to what I am doing and just making more designs / listings or do I go into this 2nd machine and start doing business to business sales and making it a proper business.

Saying that - with the kids would it be better for me to wait untill they are at school before I expand to much...yes we are talking maybe 3 years untill the youngest goes to school (1 year and half for eldest)

I am at a cross road because part of me wants to grow this but the other part of me feels if I get to busy I won't be able to look after the kids full time...as things stand I believe (its hard to really say exactly) I am making an extra £200 a month...working on that I could be a stay at home Mum with my partners wage for next 3 years quite easily which he is happy for me to do. (plus it will probably grow steadily anyway...)

I did consider childcare before the new year but I think I would prefer to look after them myself.

Just means I would put my plans on hold....but the family would benefit, I am ready to buy this 2nd machine but I am thinking am I doing to much to soon!!

Karmacat

Kayalana, it sounds like there's more profit to be gained from the machine you already have - as well as that meaning less capital investment, less space taken over in the home; and the 2nd machine you *might* buy has less opportunity for larger profit - that doesn't seem like a "proper business" to me - what you *have* sounds like a proper business! Surely you have to think about profit? Of course, you also have to think about what you enjoy, but if its about that, you need to *know* its about.

Just my opinion, of course - at least it might clarify stuff for you.

I'm avoiding the last of the tax queries, thats why I keep hopping on and off here all morning

Kayalana99

Hope you've sorted your tax out KC!!

I've been thinking about it and although the other machine would be a good expansion...it is not feasable as I would be selling business to business it would actually be more profit but it would mean I would be working to deadlines on big orders which I can't do with kids..sending invoices so no upfront payment like eBay...it would be worth while though..

I've decided to carry on with product 1 but I can get more machines to make bigger sizes (the machines are only like 10 cms by 5cms or something around that so not very big) and I can get set up with 4 more sizes for the same price of 2nd machine.

It makes sense to do whats working now then expand into the unknown for now I guess!!

Karmacat

Definitely go with what you know already works - you're planning ahead, and thats great, but usually consolidating what you've already got really helps.

I did get the English taxes done, thanks! It takes a little while before their software whirrs around and tells you what you actually needed to pay, so it had to be done today or tomorrow, deadline's pretty near now. I *think* it won't be too bad ...

Kayalana99

My fingers are itching - kids are both ill so nothing I can do but sit here today curled up with them...had my new machines delivered with all my shiny new things to play with ...

Oh well! Joys of being a stay at home mummy / business woman... I'm going to make this work ! :-)

On a side note I ordered a new laptop - 17 inch Dell... windows 7 brand new in box sealed. Trying not to get my hopes up but mines a 15inch so its gonna be a good difference...but with my last two being fautly my confidence is nil in them atm!!

I'm on my way.... !

Kc - I just found/saw your blog, I think you need to find yourself a niche somehow...I don't know what to suggest really obviously it needs to be cat related!! Can you somehow mix your photography interest with it?

Perhaps a silly daily/weekly story of what your cat 'could' of done and let people guess if its true or not? (Random idea sorry!!)

Karmacat

Kayalana99 wrote: »

I'm on my way.... !

excellent!

Kc - I just found/saw your blog, I think you need to find yourself a niche somehow...I don't know what to suggest really obviously it needs to be cat related!! Can you somehow mix your photography interest with it?

Perhaps a silly daily/weekly story of what your cat 'could' of done and let people guess if its true or not? (Random idea sorry!!)

Did you find it from the linkie on here, Kayalana? The sunlight and imagination one? Thats my personal blog, which is why it can be on here, nothing to do with moggies (aside from, ooh, that cat let me stroke her). It purposely doesn't have a focus, me, my life and I are all multi-faceted, and that blog reflects that - Egyptology, trading, Stonehenge, 1984, Nelson Mandela in relation to Zimbabwe, all of it - I made a choice for it to be like that because its personal.

Love your idea of a competition about whether the story's true or not :rotfl: thats great

The cat blog - totally agree, it needs to be cat related but I wouldn't put it in that profile page because I think that breaks mse rules, even for the blog, where I'm not selling anything, because eventually it *will* link to the sales site. The cat blog itself, I've only done a few posts, its turning out to be a design blog more than cats. Two posts are in the offing - the design of the business card, and the first doodles for a cat design - you know the long triangles that are part of the stripes of a tabby cat when people are drawing them? Or the ears, of course, they're triangular. I find that process fascinating.

Thank you for checking, and thinking of me, I really appreciate it! Hope your littlies feel better soon, and you get to play on that machine!

Kayalana99

Karmacat wrote: »

excellent!


Did you find it from the linkie on here, Kayalana? The sunlight and imagination one? Thats my personal blog, which is why it can be on here, nothing to do with moggies (aside from, ooh, that cat let me stroke her). It purposely doesn't have a focus, me, my life and I are all multi-faceted, and that blog reflects that - Egyptology, trading, Stonehenge, 1984, Nelson Mandela in relation to Zimbabwe, all of it - I made a choice for it to be like that because its personal.

Love your idea of a competition about whether the story's true or not :rotfl: thats great

The cat blog - totally agree, it needs to be cat related but I wouldn't put it in that profile page because I think that breaks mse rules, even for the blog, where I'm not selling anything, because eventually it *will* link to the sales site. The cat blog itself, I've only done a few posts, its turning out to be a design blog more than cats. Two posts are in the offing - the design of the business card, and the first doodles for a cat design - you know the long triangles that are part of the stripes of a tabby cat when people are drawing them? Or the ears, of course, they're triangular. I find that process fascinating.

Thank you for checking, and thinking of me, I really appreciate it! Hope your littlies feel better soon, and you get to play on that machine!

I just saw your link on your page to your cat blog? Bit confused as you say the personal one is linked but the cat blog isn't? Its def a cat blog!! :T

I've started posting on my blog again its basically a walk through of my journey to be a millionaire. I've only posted on it about once a year but I think I've had it since I was 16 so I plan on keeping it updated even if it is literally one post a year to see how I'm getting on. Not sharing that one though just yet...I am thinking perhaps when I make it I can turn it into some kind of book in the long run.

motorguy

SO.... the threads being going two years now, anyone truly feel they are on their way to being serious wealthy?

Karmacat

Kayalana99 wrote: »

I just saw your link on your page to your cat blog? Bit confused as you say the personal one is linked but the cat blog isn't? Its def a cat blog!! :T

Kayalana, I am *so* sorry! I completely forgot I changed the linkie there from the personal to the cat one :o:o:o:o:o:o:o:o

The one you can see **is** the cat blog its the one I'm describing as the design one - thats where I'm going to write about the business card, and about the doodling design I've been doing I feel like such an idiot :rotfl:

Still, at least it doesn't sell anything - its just prattle!

I've started posting on my blog again its basically a walk through of my journey to be a millionaire. I've only posted on it about once a year but I think I've had it since I was 16 so I plan on keeping it updated even if it is literally one post a year to see how I'm getting on. Not sharing that one though just yet...I am thinking perhaps when I make it I can turn it into some kind of book in the long run.

Wow! PM me, please!

Karmacat

motorguy wrote: »

SO.... the threads being going two years now, anyone truly feel they are on their way to being serious wealthy?

I joined a few months ago, my focus has been my pension in a few years time, and its a little bit better than I thought it would be. I'm also making definite steps towards a 2nd income (the cat website thing I'm on about in the previous post).