Earlier this year my daughter and a few of my Girl Scouts asked me why I work? This was brought on by their career teacher to do research about why people work. Well, I am sure if you ask people why they work at least over 50% of the population is going to say for the money! This teacher was ahead of the game on that answer and told the kids they had to find out other reasons why we work. So stop and think for a moment, besides the money, why do you work?
To tell you the answer of why I work, I have to share my last few weeks at work.
Just after my one year anniversary celebration, I received a phone call from the author I had wanted to join in my celebration. She had some things that had been going on and it was the soonest she was able to chat with me. She was sad to have missed my event but was still interested in doing a book signing at my store. I was very excited to meet and talk with her so I welcomed to my store Alice McFeely Meloy author of the series "One Small Valley" on November 9th. Over my lifetime, I have had so many wonderful teachers about etiquette for entertaining guests and prepared to do so. I also have been making some tweaks to my store over the last couple months so I have had some additional expenses to my monthly budget. As I am preparing I decided to make some changes to my marketing for events. Just wanted to try something new and see if I could gain some new customers. So I am calling around for some additional prices and laying out what I can and can not afford. After I see the expenses, I decided to take the safe route and go with my normal plan since it was in my budget. As I went to sleep that night I kept replaying in my head the contact potential with my secondary choice in marketing. Their coverage area was much larger than any I have used in the past and they deal with social media which could help even more in the long run. When I got to work the next day I decided to take the large risk and go with the expensive marketing. To be able to afford it, I had to cancel service with the company I usually use. My original hope was to do both but when it came down to it, I chose only one. I was excited each time I saw my advertisement with the larger firm, but it did not seem to bring in the response I was hoping for. As for the day of my event, I think my free advertising brought me as much business as my advertisement did. We had a wonderful evening and I enjoyed some great conversations with Alice and her family.
Business is all about taking risks, I go through ups and downs when I can jump in without looking back and then times of fear and worry. The key is to not let the fear and worry keep you from playing the game. Each business is unique and some types of marketing work better for some than others. I am learning what works for me and continue to tweak things to fit my needs. This week I have been kinda down. We have had a lot of family things going on right now and work seems to be taking a back burner and I was down that my marketing plan did not turn out the way I wanted it to. This is one of those weeks I sometimes question if I am on the path I should be on. Most of this business adventure has fallen into place for me. The items I need, arrive almost from out of the blue sometimes. I know that I am a growing as a business and not sure I can keep up at times either but I guess they are all just steps to where you are going.
To answer my question above about why I work. When I answered this question to the girls at school, I shared that I work to help other people and it is something I enjoy doing. My husband works to prepare for retirement and the health care benefits we receive. But thanks to my mother who often picks me up when I am down I remember why I work. I work each day to make the world a better place because that is who I am. Even if it is for 10 minutes while someone is shopping in my store, if I can make them smile they can pass it on to the next person and so on. For some it is that special piece they remember as a kid, or that item their daughter or son needs, or simply wishing them good luck on their scratch off ticket. I offer hopes and dreams with each purchase for the people who shop in my store and that brightens their day as well as mine. One of my business goals is to be able to provide for my family in a comfortable fashion and to have enough to give to others. I am still trying to achieve this goal one step at a time.
"If you think you are too small to make an impact, try going to bed with a mosquito"
Anita Roddick
Thursday, November 15, 2012
Wednesday, October 31, 2012
Survived Huricane Sandy
The Northeast has had a rough couple of days thanks to Hurricane Sandy. I am thankfully safe and sound and had no extreme damage to my home or store. This did open up my eyes to another aspect of business you do not often think about when you are in small business (small business by definition is one that makes under 250,000 a year according to our President and his incumbent). You should have a disaster plan and good insurance coverage.
A typical new entrepreneur has very little down time and often is planning their next move even after they leave the work site. I do this often, sometimes it is my home life or work life that is my distraction but when I lock the door to go home, I am no longer at work. I may still do things for work, like writing my blog after hours, shopping for supplies, and picking up my next load but my mind is no longer worried about the site. I have an alarm system in place over there so that is one thing I do not worry about after the door is locked(unless of course something would happen). So when I locked my doors on Saturday afternoon I left everything as normal. I was a little frazzled from the business of the day and was ready to have 2 days off so I left. Meanwhile the next morning, I eagerly prepare for Hurricane Sandy at my home. We spent time removing things that can blow in the wind, digging trenches to prevent build up of water in my basement, and so on. Later that night we crashed and waited to see what was to come. The shop is closed on Monday so I did not have to go over to it at all and I was not sure if I could make it to the store on Tuesday. When I awoke Tuesday am, the route to the store was closed so I closed for the day and had some much needed R&R. When you start a business any R&R time disappears for the first few years so you take it when you can even if it is a hurricane that prevents you from opening.
So after the storm we evaluated the house and looked for damages. I am glad to say our prep work prevented water from entering the basement. Even though we had puddles, we had success. Then I contacted close family and friends and checked Facebook to see how others made it through. Praying for those still out and about fixing all the destruction. After hearing that those dear to us were safe and sound, I started to suffer from cabin fever. I was worried about the store. (note now you have another worry to add to the list). Is it still standing, are there any damages, leaks, power outages, and etc? I researched closed roads to map out a safe route to get there and see for myself. Thankfully had my hubby along to help with any damages I may encounter.
As we got closer, I begin to worry more as I saw the damage leading up to the shop. I saw gas pumps crushed, trampolines destroyed, power lines down, and trees uprooted laying on cars and houses. As soon as I can see the roof top from afar, I know it is still standing(sigh). As we pulled in, my husband says "didn't you bring in all the stuff outside?" I said "nope, didn't think about it then." Probably should have but thankfully it is all still here. I do have problems with the wind on an weekly basis anyway since I am in the middle of fields and nothing to stop it so I have everything anchored down normally. My signs were all intact and everything as it was when I left and locked the door. I checked inside for leaks and any other damage that could have happened. I finally relax when I found out I have more debris at home than at the store.
Now I must have a disaster plan in case something worse happens. In management I have often made decisions about closing for snow but hurricanes are not a normal thing for us in Pa. Just a thought for other businesses. Do you have enough insurance coverage? I thankfully have had a friend that used to sell insurance and explained to me in (Lehman's terms) about different coverages and even though I rent and do not own the property, I have great coverage for the shop and could have replaced anything that was damaged in time. Please know that it is not the landlords responsibility to cover your assets. Check your lease if you have questions and maybe if you have been in business for awhile, you need to update your coverage. I updated my coverage already to reflect the increase in inventory and I have only been open a year so stay on top of it as your business grows.
"View change as the one constant in your life. Welcome it. Expect It. Anticipate it." Denis Waitley.
A typical new entrepreneur has very little down time and often is planning their next move even after they leave the work site. I do this often, sometimes it is my home life or work life that is my distraction but when I lock the door to go home, I am no longer at work. I may still do things for work, like writing my blog after hours, shopping for supplies, and picking up my next load but my mind is no longer worried about the site. I have an alarm system in place over there so that is one thing I do not worry about after the door is locked(unless of course something would happen). So when I locked my doors on Saturday afternoon I left everything as normal. I was a little frazzled from the business of the day and was ready to have 2 days off so I left. Meanwhile the next morning, I eagerly prepare for Hurricane Sandy at my home. We spent time removing things that can blow in the wind, digging trenches to prevent build up of water in my basement, and so on. Later that night we crashed and waited to see what was to come. The shop is closed on Monday so I did not have to go over to it at all and I was not sure if I could make it to the store on Tuesday. When I awoke Tuesday am, the route to the store was closed so I closed for the day and had some much needed R&R. When you start a business any R&R time disappears for the first few years so you take it when you can even if it is a hurricane that prevents you from opening.
So after the storm we evaluated the house and looked for damages. I am glad to say our prep work prevented water from entering the basement. Even though we had puddles, we had success. Then I contacted close family and friends and checked Facebook to see how others made it through. Praying for those still out and about fixing all the destruction. After hearing that those dear to us were safe and sound, I started to suffer from cabin fever. I was worried about the store. (note now you have another worry to add to the list). Is it still standing, are there any damages, leaks, power outages, and etc? I researched closed roads to map out a safe route to get there and see for myself. Thankfully had my hubby along to help with any damages I may encounter.
As we got closer, I begin to worry more as I saw the damage leading up to the shop. I saw gas pumps crushed, trampolines destroyed, power lines down, and trees uprooted laying on cars and houses. As soon as I can see the roof top from afar, I know it is still standing(sigh). As we pulled in, my husband says "didn't you bring in all the stuff outside?" I said "nope, didn't think about it then." Probably should have but thankfully it is all still here. I do have problems with the wind on an weekly basis anyway since I am in the middle of fields and nothing to stop it so I have everything anchored down normally. My signs were all intact and everything as it was when I left and locked the door. I checked inside for leaks and any other damage that could have happened. I finally relax when I found out I have more debris at home than at the store.
Now I must have a disaster plan in case something worse happens. In management I have often made decisions about closing for snow but hurricanes are not a normal thing for us in Pa. Just a thought for other businesses. Do you have enough insurance coverage? I thankfully have had a friend that used to sell insurance and explained to me in (Lehman's terms) about different coverages and even though I rent and do not own the property, I have great coverage for the shop and could have replaced anything that was damaged in time. Please know that it is not the landlords responsibility to cover your assets. Check your lease if you have questions and maybe if you have been in business for awhile, you need to update your coverage. I updated my coverage already to reflect the increase in inventory and I have only been open a year so stay on top of it as your business grows.
"View change as the one constant in your life. Welcome it. Expect It. Anticipate it." Denis Waitley.
Friday, October 5, 2012
Celebrating 1st year
Well, it is official I have now been in business for over 1 year. The first year has had many ups and downs and I have learned many new things but I now feel like a true business woman. Before this point, I was chasing a dream and I was not sure how it would end up. Even though I do not know how the future will be, I have many expansions and growth yet to complete for the store.
My business plan for the first year is done but this is where the long term goals come into play and I do not know what experiences will happen along the way. I have never been good at long term goals, too impatient I guess but I truly believe the best things in life are those things you wait for that can not be achieved overnight. My marriage is a great example. When I married my husband 11 years ago I wanted a relationship to compliment me. I was very independent and would not let down my guard enough to let my relationship grow to what it is today. We have always been close to each other and tried to work out any problems instead of ignoring them but in our relationship today he completes me and I have come to rely on him more than anyone else. I am now looking for those kind of growing pains with my business. I understand it more now and look forward to finding more ways to expand and make it more permanent. In doing this , my business has become a part of me not just another job.
I have several customers who say my store has a lot of my personality in it. I believe in a great product at a great value and presentation means a lot. Some people call Thrift Stores junk shops but I have found some awesome treasures in my years shopping and managing them. One key is to treat it much like a retail shop with different categories and changing sales and layout regularly. Discount stores are similar because they do not know what the next deal they are going to get and may have to change several departments to make it all fit. But that is part of the fun in a thrift store. I am always in search of new ways to recycle things I am not able to use in the store but as most of you that have shopped my store know, I try to sell everything! Some resale shops specialise in a few items but for me it is all about carrying everything because you never know what you may need next.
I have really enjoyed the experience of writing my blog and it gives me ways to look back on all my challenges and helps me face the next one but I do not feel it has helped as many other business people as I had hoped for. So I am considering writing an ebook to share my secrets in the thrift store and resale industry. That also will be a new adventure and I will post more if and when I finish. I have helped start over 5 thrift stores and helped other businesses when I can so I am hoping to share some of that detailed knowledge so I can help more than just people in my local area. The quote I want to leave you with today is:
"What I know is, that if you do work that you love, and the work fulfills you, the rest will come." Oprah
My business plan for the first year is done but this is where the long term goals come into play and I do not know what experiences will happen along the way. I have never been good at long term goals, too impatient I guess but I truly believe the best things in life are those things you wait for that can not be achieved overnight. My marriage is a great example. When I married my husband 11 years ago I wanted a relationship to compliment me. I was very independent and would not let down my guard enough to let my relationship grow to what it is today. We have always been close to each other and tried to work out any problems instead of ignoring them but in our relationship today he completes me and I have come to rely on him more than anyone else. I am now looking for those kind of growing pains with my business. I understand it more now and look forward to finding more ways to expand and make it more permanent. In doing this , my business has become a part of me not just another job.
I have several customers who say my store has a lot of my personality in it. I believe in a great product at a great value and presentation means a lot. Some people call Thrift Stores junk shops but I have found some awesome treasures in my years shopping and managing them. One key is to treat it much like a retail shop with different categories and changing sales and layout regularly. Discount stores are similar because they do not know what the next deal they are going to get and may have to change several departments to make it all fit. But that is part of the fun in a thrift store. I am always in search of new ways to recycle things I am not able to use in the store but as most of you that have shopped my store know, I try to sell everything! Some resale shops specialise in a few items but for me it is all about carrying everything because you never know what you may need next.
I have really enjoyed the experience of writing my blog and it gives me ways to look back on all my challenges and helps me face the next one but I do not feel it has helped as many other business people as I had hoped for. So I am considering writing an ebook to share my secrets in the thrift store and resale industry. That also will be a new adventure and I will post more if and when I finish. I have helped start over 5 thrift stores and helped other businesses when I can so I am hoping to share some of that detailed knowledge so I can help more than just people in my local area. The quote I want to leave you with today is:
"What I know is, that if you do work that you love, and the work fulfills you, the rest will come." Oprah
Thursday, September 27, 2012
Pros and Cons of Owning a Business
As I kinda explained in my year in review, that there were times I thought I would not have made it to this point. But some key things I want share are. Pros and Cons of starting a business. You think about these but you do not really see them till you experience it.
PROS
You are the BOSS
You get to chose and create your work environment.
If you arrive late one day no one notices or do they??
You have control to fix issues. (no longer waiting to hear how to proceed)
Your reward is what you put in it. (This is for those who do not feel appreciated at work)
You can adjust your schedule to fit you life. (if you need off you can adjust)
You get to chose who to hire and represent your business.
Your opportunities are endless(financial and life experience)
You get to see your hard work grow and pay off.
and last, Your DREAMS can come true!!!!!
With all those exciting things you also have cons and it is harder to see those until they happen. It is kind of like car or motorcycle accidents. You know the risk every time you are on the road but you never think it will really happen to me.
CONS
You are the BOSS (it is great most of the time but you can not run and hide if you want to. All actions have reaction and you deal directly with all decisions you make good and bad)
All operations are now your responsibility (you can hire and delegate but you still have to check and make sure everything is done examples marketing, accounting, day to day operations, inventory control and to many things to name)
When your business does well financially you do well, but when it has a dry period so do you.
You no longer have someone over you to hold you accountable or to motivate yourself
You invest lots of time and money (sometimes without seeing any of it in return)
You no longer get paid sick days and vacation days (at least until you become established)
Your liabilities increase
and last, There is no GUARANTEE that your business will SUCCEED!!!!
When I made my pros and cons list in my business plan it said this:
PROS
You are the BOSS (Thinking all positive)
Flexibility for my family
Location has lots of potential
Business has lots of potential
Nice size Parking Lot
Pre established Clientele
Room to expand
Lack of competition and need of local supplies
CONS
Heating with oil
Rebuilding customers
Regaining from current pricing
Uncertainty of income
Renting Vs Buying
It does not look anything like the year later report. I am not sharing this to discourage anyone from starting a business I am just sharing what I am learning and have learned. My first business had very little investment and very little risk. This one has much more potential but also the risk and investment were greater.
I want to leave you to think about these pros and cons and make some for yourself with your business in mind but remember.
"Have great hopes and dare to go all out for them. Have great dreams and dare to live them. Have tremendous expectations and believe in them." Norman Vincent Peale.
PROS
You are the BOSS
You get to chose and create your work environment.
If you arrive late one day no one notices or do they??
You have control to fix issues. (no longer waiting to hear how to proceed)
Your reward is what you put in it. (This is for those who do not feel appreciated at work)
You can adjust your schedule to fit you life. (if you need off you can adjust)
You get to chose who to hire and represent your business.
Your opportunities are endless(financial and life experience)
You get to see your hard work grow and pay off.
and last, Your DREAMS can come true!!!!!
With all those exciting things you also have cons and it is harder to see those until they happen. It is kind of like car or motorcycle accidents. You know the risk every time you are on the road but you never think it will really happen to me.
CONS
You are the BOSS (it is great most of the time but you can not run and hide if you want to. All actions have reaction and you deal directly with all decisions you make good and bad)
All operations are now your responsibility (you can hire and delegate but you still have to check and make sure everything is done examples marketing, accounting, day to day operations, inventory control and to many things to name)
When your business does well financially you do well, but when it has a dry period so do you.
You no longer have someone over you to hold you accountable or to motivate yourself
You invest lots of time and money (sometimes without seeing any of it in return)
You no longer get paid sick days and vacation days (at least until you become established)
Your liabilities increase
and last, There is no GUARANTEE that your business will SUCCEED!!!!
When I made my pros and cons list in my business plan it said this:
PROS
You are the BOSS (Thinking all positive)
Flexibility for my family
Location has lots of potential
Business has lots of potential
Nice size Parking Lot
Pre established Clientele
Room to expand
Lack of competition and need of local supplies
CONS
Heating with oil
Rebuilding customers
Regaining from current pricing
Uncertainty of income
Renting Vs Buying
It does not look anything like the year later report. I am not sharing this to discourage anyone from starting a business I am just sharing what I am learning and have learned. My first business had very little investment and very little risk. This one has much more potential but also the risk and investment were greater.
I want to leave you to think about these pros and cons and make some for yourself with your business in mind but remember.
"Have great hopes and dare to go all out for them. Have great dreams and dare to live them. Have tremendous expectations and believe in them." Norman Vincent Peale.
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