Tuesday, October 27, 2009

A penny saved is a penny earned.


"In God We Trust" I guess you could say that when The Little Hat Company first started the energy around the growing business was consuming. Our adrenaline was flowing full force and for the first year on any given night you could catch, Sue, Barb, and I painting, schlepping boxes, moving furniture, cutting fabric, sewing, or sending emails to at least 2:00am. Everything was moving at warped speed and just when we thought it couldn't speed up - it did. It was amazing how at first we just rolled up our sleeves and got it done.

Barb has the spirit of a relentless warrior with the most courageous of hearts. She never questioned why, just "what time and where are we getting together."

Sue is our constant comedian to keep the air light and filled with laughter. I can remember painting at our original location one night after midnight, we were exhausted and giddy when a furry little creature scurried across the floor in front of me. I freaked and Sue said "I'm not afraid of a mouse". She instantly took my fear away and I saw the humor in the situation. We were flying blind in the beginning. It was never our intent to open a toy store, nor a second location, and even a third event space but circumstance and serendipity seemed to lead us into some amazing situations.

I believe in business that when someone or some business ask if you can do something the automatic response is 'yes' - Cathie McCoomb will verify how passionately I live by this statement. Here's my first adjustment in creating business - A penny saved is a penny earned. It's not just enough to have faith that everything will work out for the best and the money will come through in sales, or credit. It's important to value your business and believe in its future by setting aside some cash from the very beginning. Don't think of it as keeping cash away from the growing process of your biz. Think of your savings as a way of knowing that the most incredible, unpredictable opportunities WILL be coming your way and you don't want anything to prevent you from saying 'yes' to the good ones.

When you are spending saved money it is a motivating force to spend a little more time evaluating the amazing opportunity and making sure that you are considering whether or not the benefits outweigh the risks. This is your baby. You are mother hen. Don't ever be embarrassed not to be in position to take advantage of a once in a lifetime opportunity. If it is meant for you and your business it will roll back around.

SAVE 10% of monies in when you start selling and collecting from revenue streams. So quickly will it attract new monies and put you in a position of control over the destiny of your business.

1 comment:

  1. Thanks for sharing this wisdom. I'm going to take this advice today.

    Julie

    ReplyDelete