I have learned another reason why you create a business plan before going into business. I always thought it was a guide and the steps you need to create your business.
That is the whole reason I started this blog, to help others and myself during those steps. I am not sure my blog has helped anyone other than me yet. The key word YET. I have been completing everything on my business plan at record speed because I do not know patenice and I want my finished and polished project NOW. Even though I know deep down it takes time. Even an army of men move mountains one stone at a time. I think back to each one of my employment opportunies over the years. I advanced in everything I did but it took time and hard work. I never gave up unless I moved forward to better myself and my family. The thrift store I used to manage took over a year before I increased the sales volume the way I did and even after 5 years of working there, I continued to make changes for the better. I could have made many more changes and improvments if they would have invested in me and my choices to expand but I can not change the past and now, I can test my choices myself. I have invested everything I have in me and that has to be the scariest but most joyful experience ever. I think by the end of the year, we are going to do the same thing for my husband and he will get his chance to prove himself too.
In the past 2 weeks, I have had some very down days and wondering what am I doing. Is this the best choice for me and my family. There is no room for doubt in business but we all experience it from time to time. The key is to process and maybe ask yourself why do you feel that way and move forward. Stick to the plan. I just reread my business plan and I am making adjustments since my business has changed but it is a guide and consistant even when I am not. I will not allow myself to lose site of the goal. Remeber that first thing you put in your plan.
Something you can do, is change the things you do the achieve the goal. I have taken my slow week to complete another Marketing Class. A nice virtutal class is at this site. http://mainesbdc.org/ I do not always get new information from each class, but it stirrs my thoughts and gives me ideas to help move forward.
I also started a No Excuses Policy at my store. This idea came from Janis Pettit. When you have a boss, you have someone to be accountable too, but in your own business you only have to be accountable to you. If you didn't update the newsletter, email, banking, and ect you suffer the consquence in your business. Make a no excuse policy and just do it. I have had a lot going on in my personal life in last 2 weeks and it has effected my business. I have no excuse and I am moving forward to change and make it better. My business plan has helped pull me out of the slump for now.....
"Go as far as you can see; when you get there, you'll be able to see farther." J.P. Morgan
Wednesday, April 25, 2012
Wednesday, April 18, 2012
Celebrating 6 months
As of the month of April, my business has been open for six months. Overall things have been very up and down. I felt great momentum going into the month and things have slacked down a little from Easter. I have had some of my biggest days in last couple weeks, but each day is a hit or miss instead of constant up or down. I had a great sale running the begining of the month and used Easter eggs to have customers open for additional savings on entire purchase. The customers had fun and it was great success, and I may continue to use this in March/April and call it a Spring Fling sale after I have been in business for a year.
If I had to rate progress for last 6 months, I would say that I have changed the opinion of a lot of my customer base and many have been returning more often to the store. That is very positive to hear how much everyone like the store. Comments heard often, are that it is cleaner, items are in good condition, prices are great, and it is a friendly place to shop. I have doubled my space and categories since I opened. The inside of the store has more space from updating equipment and I have been getting new items from different people. I changed the layout a few times to help with the flow when shopping and the store acquired a couple new licenses and permits to carry items needed in the local area. I am begining a new project to expand sales and help my community.
I started a frequent shopper program when I first opened and I am proud to say I have 3 people that are one stamp away from savings and I have many more that are close. If I run numbers on the progress it comes out to each customer stopping in at least every 3 weeks to see what is new. My Facebook page and Twitter account have become fun to update and communicate with customers. I also give away a free thrifty tip each week and some customers have really enjoyed the tips and using them in their everyday life. If we plan to come out ahead in this economy we have to pull together tips, resources, and just help one another. If you would like to check out my Thrifty Tip Thursdays please click on this facebook site and join by liking the Susy's Treasure Chest page. https://www.facebook.com/media/set/?set=a.320012684737620.76602.319640671441488&type=1#!/pages/Suzys-Treasure-Chest/141522819296361
A few things that haven't turned out as I planned in this adventure so far are that my sales are not at the level I expected by this point, not sure if I aimed really high or if it is something I am or am not doing correctly. Having said this, my average daily sale has almost doubled from my first weeks of being opened but I think they can grow more than that. I want to expand more on the internet to open up my customer base but I am not sure where to go to move forward more than I am now. My home life is becoming very stressful at this point, since my husband has not found employment that he enjoys that pays what he used to make before his company closed down last year after we bought the store. I am not taking much from the store as we planned to make the well needed changes but feeling like something has to give. We have used up our savings and are living week to week like most americans are now. We cut several expenses as soon as we found out his job was closing so not much left to trim out. I am actually looking for something part time to help out since the store isn't making large profits yet. My quote that keeps me going right now is.
"Don't find fault, find a remedy" Henry Ford
I have heard it said many times that businesses that make it don't give up when things are tough they keep going and do what ever it takes. The business continues to grow and I expect after we become established we will look back and laugh about how scared we were and how long do you continue to dig forward before you dig straight down and are in a hole you can not get out of. My dreams at night tell me we are going the right way but I want to send out a reminder to never lose faith of what you can do, just do it, and do it well.
If I had to rate progress for last 6 months, I would say that I have changed the opinion of a lot of my customer base and many have been returning more often to the store. That is very positive to hear how much everyone like the store. Comments heard often, are that it is cleaner, items are in good condition, prices are great, and it is a friendly place to shop. I have doubled my space and categories since I opened. The inside of the store has more space from updating equipment and I have been getting new items from different people. I changed the layout a few times to help with the flow when shopping and the store acquired a couple new licenses and permits to carry items needed in the local area. I am begining a new project to expand sales and help my community.
I started a frequent shopper program when I first opened and I am proud to say I have 3 people that are one stamp away from savings and I have many more that are close. If I run numbers on the progress it comes out to each customer stopping in at least every 3 weeks to see what is new. My Facebook page and Twitter account have become fun to update and communicate with customers. I also give away a free thrifty tip each week and some customers have really enjoyed the tips and using them in their everyday life. If we plan to come out ahead in this economy we have to pull together tips, resources, and just help one another. If you would like to check out my Thrifty Tip Thursdays please click on this facebook site and join by liking the Susy's Treasure Chest page. https://www.facebook.com/media/set/?set=a.320012684737620.76602.319640671441488&type=1#!/pages/Suzys-Treasure-Chest/141522819296361
A few things that haven't turned out as I planned in this adventure so far are that my sales are not at the level I expected by this point, not sure if I aimed really high or if it is something I am or am not doing correctly. Having said this, my average daily sale has almost doubled from my first weeks of being opened but I think they can grow more than that. I want to expand more on the internet to open up my customer base but I am not sure where to go to move forward more than I am now. My home life is becoming very stressful at this point, since my husband has not found employment that he enjoys that pays what he used to make before his company closed down last year after we bought the store. I am not taking much from the store as we planned to make the well needed changes but feeling like something has to give. We have used up our savings and are living week to week like most americans are now. We cut several expenses as soon as we found out his job was closing so not much left to trim out. I am actually looking for something part time to help out since the store isn't making large profits yet. My quote that keeps me going right now is.
"Don't find fault, find a remedy" Henry Ford
I have heard it said many times that businesses that make it don't give up when things are tough they keep going and do what ever it takes. The business continues to grow and I expect after we become established we will look back and laugh about how scared we were and how long do you continue to dig forward before you dig straight down and are in a hole you can not get out of. My dreams at night tell me we are going the right way but I want to send out a reminder to never lose faith of what you can do, just do it, and do it well.
Tuesday, April 10, 2012
Expanding and Change
In my last segment, I covered my marketing plans that I did in January. I also decided that a slow time was time to make changes in the store area and adjust my business plan according to my growth. I laid out a marketing plan just like my business plan with expenses and timeline so I could just cross off the list and report progress from each to see what works well in the future. Now I am laying out an expansion plan. I needed to know additional costs to expand in each section and projected profit from each expansion. Then I started to talk to my customers to see what they were more interested in.
I feel the store really grew during February and March from the work and lay out of my new plans. I have replaced all table displays from when I first opened with shelving units that help display items better. This freed up space to expand the clothing department so I got a few more racks. These changes allowed my customers to better view all my items for sale. Each trip I made to replenish groceries that I sold, I got a new product to carry. Growing over time but in a couple months making a large impact. I had rearranged the store with all my changes. Customers had to see the changes so they keep coming back.
I recently expanded into carrying more furniture items and that is a big draw. Since the weather is getting nicer, I am having sidewalk sales outside so customers can see items from the road to draw attention.
I have already expanded into a few areas that I wanted to and have a layout of how the business will grow by the end of the year. I now carry fresh bread items, and over the counter medicines. My clothing has grown and so has the household items. I expanded my beverage cooler. My grocery department has doubled from when I first opened. Sales are growing and have almost doubled from when I first opened.
I now spend about an hour and 1/2 a week updating information and pictures on Facebook and Craigslist to get the word out about new items. I am busy enough during the day now, that I am taking my paperwork home to complete. I still want more growth, but I am starting to see a light at the end of the tunnel.....
"When you expect things to happen, strangely enough they do happen." J.P. Morgan
I feel the store really grew during February and March from the work and lay out of my new plans. I have replaced all table displays from when I first opened with shelving units that help display items better. This freed up space to expand the clothing department so I got a few more racks. These changes allowed my customers to better view all my items for sale. Each trip I made to replenish groceries that I sold, I got a new product to carry. Growing over time but in a couple months making a large impact. I had rearranged the store with all my changes. Customers had to see the changes so they keep coming back.
I recently expanded into carrying more furniture items and that is a big draw. Since the weather is getting nicer, I am having sidewalk sales outside so customers can see items from the road to draw attention.
I have already expanded into a few areas that I wanted to and have a layout of how the business will grow by the end of the year. I now carry fresh bread items, and over the counter medicines. My clothing has grown and so has the household items. I expanded my beverage cooler. My grocery department has doubled from when I first opened. Sales are growing and have almost doubled from when I first opened.
I now spend about an hour and 1/2 a week updating information and pictures on Facebook and Craigslist to get the word out about new items. I am busy enough during the day now, that I am taking my paperwork home to complete. I still want more growth, but I am starting to see a light at the end of the tunnel.....
"When you expect things to happen, strangely enough they do happen." J.P. Morgan
Marketing Seeds
I am a firm believer that you reap what you sow. Knowing this, I spent my slow period of January to get my name out there however I could. I was feeling very unsure about my choices and afraid of what was to come. My budget I had laid aside for me to be off work with no income was fading quickly. I had expected business to pick up faster than it did. The store was paying its own month to month expenses but nothing was left over to expand. I felt since we were not spending out of pocket things should continue to move forward, so we did. In all my business books people say some businesses give up moments before they see the success and work that they did. This is why I can not stress enough about looking 5 years out in a business plan.
"Continuous effort-not strength or intelligence is the key to unlocking our potential." Sir Winston Churchill
In my marketing research, I found a website from Janis Pettit. She is a small business life coach and offers some information and a video for free. I used as many things as she has listed that I felt comfortable to use. She recommends using websites like, Craigslist, Facebook, Twitter, Google, Blogs, and many more. I had been using Craigslist since I opened and continue to put larger items on the gain more customer base. I have used Ebay as an option, but it requires more time to maintain than I care to use so it is last resort. They have the option to create an online store that can be viewed anytime. I already had my stuff on Google and I even show up on GPS in this area. I started a Facebook page in January and I started to give away a free thrifty tip each week to maintain weekly contact. Janis talks about giving something away for free as a constant reminder you are here. I also started a mailing list, and email list. This way I can send out advertisements and sales. To get my mailing and email listing, I had a survey that I gave away to all customers and I had a movie basket as a prize to return surveys. One lucky person who returns will win the basket. I was also able to use my surveys to find out what my customers want more of. I currently do not use Twitter or other social sites since most of my customer base is on Facebook. You need to do what works for you.
I also worked out a deal with my local paper for a small weekly ad. I pay quarterly for it and it has my hours and contact information. Some people say that advertising budget can be cut when capital is down, but most businesses will tell you that is time to advertise more. If advertising is too expensive, consider a co-op with other businesses close by and share the cost. One of our local papers and radio stations is doing a hometown half off advertising to help everyone during the down turn of the economy. And they sell gift certificates for your location for half price and you spend only the free product for advertising. It is worth looking into local specials in your area.
My last big marketing item is my frequent shopper card. I give 10% off their purchase after they earn 10 stamps. To earn a stamp they must make a purchase of $5.00 or more. They do not get additional stamps for each $5.00 spent. You can adjust minimum purchase or what they get once they complete the card for your own business. It has my business information on the front of the card so it can be a double advertisement.
Good Luck starting all your marketing seeds and watch your business grow!!!!
"Continuous effort-not strength or intelligence is the key to unlocking our potential." Sir Winston Churchill
In my marketing research, I found a website from Janis Pettit. She is a small business life coach and offers some information and a video for free. I used as many things as she has listed that I felt comfortable to use. She recommends using websites like, Craigslist, Facebook, Twitter, Google, Blogs, and many more. I had been using Craigslist since I opened and continue to put larger items on the gain more customer base. I have used Ebay as an option, but it requires more time to maintain than I care to use so it is last resort. They have the option to create an online store that can be viewed anytime. I already had my stuff on Google and I even show up on GPS in this area. I started a Facebook page in January and I started to give away a free thrifty tip each week to maintain weekly contact. Janis talks about giving something away for free as a constant reminder you are here. I also started a mailing list, and email list. This way I can send out advertisements and sales. To get my mailing and email listing, I had a survey that I gave away to all customers and I had a movie basket as a prize to return surveys. One lucky person who returns will win the basket. I was also able to use my surveys to find out what my customers want more of. I currently do not use Twitter or other social sites since most of my customer base is on Facebook. You need to do what works for you.
I also worked out a deal with my local paper for a small weekly ad. I pay quarterly for it and it has my hours and contact information. Some people say that advertising budget can be cut when capital is down, but most businesses will tell you that is time to advertise more. If advertising is too expensive, consider a co-op with other businesses close by and share the cost. One of our local papers and radio stations is doing a hometown half off advertising to help everyone during the down turn of the economy. And they sell gift certificates for your location for half price and you spend only the free product for advertising. It is worth looking into local specials in your area.
My last big marketing item is my frequent shopper card. I give 10% off their purchase after they earn 10 stamps. To earn a stamp they must make a purchase of $5.00 or more. They do not get additional stamps for each $5.00 spent. You can adjust minimum purchase or what they get once they complete the card for your own business. It has my business information on the front of the card so it can be a double advertisement.
Good Luck starting all your marketing seeds and watch your business grow!!!!
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