Sunday, November 25, 2012

Sometimes Bad News is Good

This is where I'm starting.These books have been
on my "partially-read" shelf for months or more.
I just spent the last few hours reviewing my goals and finances for 2012. It was kinda nice taking today off and really tackling this. Granted, it took some effort to get started, but after 15 minutes I was determined to evaluate every aspect of 2012. The news wasn't all bad, but I have some things I need to figure out going forward. There are a few goals I meant to achieve but never did--build an Etsy presence, increase my graphic design work, look into online selling--but I also accomplished quite a bit, so it was good to review. Now that tracking expenses has opened up a whole new can of worms, uh, namely that I'm making almost as much as I'm spending, I need to figure out how to minimize expenses or do a better job moving my work. I haven't quite figured out my 2013 goals but I've made a dent. I've learned soooo many lessons this year. That's the good part. I know what to eliminate and will refocus. I'm going to start by writing two business plans--one for art and one for graphic design--which will require some research. If you have any sources to recommend, please share!


Preston Woodruff said...

Almost breaking even for the lst year of keeping records? Congratulations! You're ahead of the pack. One of the functions of a business plan is projecting how much you can afford to lose the lst year, then the 2nd, etc. For the first year of Appalachian Tree Works, I projected $1800 of red ink, but only hit c. $1000. The next year I broke even. I felt great about that.
Figuring up a business plan for a one-person art studio is way different from what most books or CPA's would probably tell you -- they're thinking more along the lines of buying products wholesale and selling them retail, w/o much value added in the process. But reading can't hurt. Don't you already have a book about putting a studio on a business footing? Thought I remembered something like that from a couple of years ago.
Back to work. Again, congratulations.

Cathy Savage said...

You're right, I'm doing well all things considered. My goal to not go back to a desk job is still in my line of sight, but I'd rather get to it sooner rather than later. All my what-not-to-do learning has been time consuming, lol. Every biz is different so really I couldn't have gotten what I learned from a book, so I'm grateful for the lessons I guess. I think a biz plan will do me a world of good, just staying focused...