Sunday, August 15, 2010

She works hard for her money.....

So hard for her money....

That was the song ringing in my ears when I bit the bullet on Friday and hit the books.

It was time to do the taxes!
This wouldn't have been such a harrowing proposition if i I promised myself last year......put SOME effort into bookkeeping at any stage throughout the year.

Exhibit A:
Big box is what I stored 09/10 receipts in....little box is where i plan to store 10/11 receipts.

Alas i stooopidly picked the worlds biggest container to stash all my receipts in, knowing that ONE DAY...I would open that lid and deal with them.

The thoughts of losing a day of productivity where overshadowed by my curiosity as to how my second year running Finki went.

I am such a bad business woman...really. If i see it and like it, I buy it. If I think teal is the new black...I'm all over it. There is no cash flow analysis or stock projections here, just fly by the seat of my pants type planning.
Being at Olive Grove I am forced to reconcile my sales on a monthly basis, so i generally have a rough idea how that side of things is travelling but i do overlook the numerous, Lincraft, spottie and Savers receipts that overtake my house. There fore leaving me none the wiser as to what my expenditure is. So Tax time is all about finding out whether I broke even.

My one business goal this financial year was to increase my sales by at least 40%. Not by just wishing and praying, but by doing the hard yard.
I gave up my part time job and committed myself to a full year of 110% effort.
I worked from 3 to 5 days a week, I expanded from jewels and stationary, to home wares and clothing. I gave it everything i had, just so i could test myself. Test my resolve, commitment and ability to keep creating, whilst keeping it interesting and profitable enough to put food on my table and clothes on my kids backs.

After 8 hours of recording mountains of paper work....I KID YOU NOT!

True's some of it!

Came the moment of truth......did i meet my business goal, were all the late nights, long days and craft related injuries worth it.

Yep.....I'd have to say Yes.

My little business improved 130% on last years final figures.


Happy dance, happy days.

Maybe, just maybe...I could be a designer. A designer of my own career. How bloody exciting is that.
There are numerous flaws in my design at present....for example the 60 hour working weeks, the fact I'm paying for a gym membership I don't have time to use and I still have not defined what I do, aghhhh....... but nothing that can not be overcome with a little time management, planning and adventure.

This is an image of my current bookkeeping status, two months in and all accounted for woohoo!....

So my goal this year is to maintain monthly records, have a sound knowledge of my cash flow and most importantly continue to enjoy the crafty journey.

Fingers crossed.
Jay xx


  1. Jay, thats so exciting. I "try" and do my bookwork at the end of each month....and I have no plans or business acumen at all !
    My goal last year was to lose less money than I did the year before.....
    This year , who knows ? I may even come out in front !

  2. Ugh I still have that same job to do, but only for the last quarter of the financial year.
    Congratulations on having the courage to take the leap of faith and put in all the hard work.
    You deserve every bit of success!
    Oh and I hope your profit managed to increase 130% too.

  3. That photo of your receipts earned a big scolding from me! Definitely better to keep a little tin for receipts so that you have to do something about them when you can't jam any more in.

    Well done on your fabulous sales year, and may 2010-11 be another 130% growth!

  4. That is bloody brilliant Jay - congrats and keep up the the resolve re the bookwork! You are growing your business! Yay!

  5. I have an income and expenditure book I write up all my receipts once a month. I just tonight ( co-incedence ) added up my figures for the year and I grew 100% so good on you, You are a legend and Handmade IS the new black for sure! Love your work !

  6. Congrats on all your hard work, you deserve the glory! The products that you are making through olive grove are groovy! Pat yourself on your back and do something special to celebrate your achievements.

  7. Well Done Jay!!! That is super fantastic!! Great to actually see that you hard work is well and truly paying off and yes you will make it as a designer, I have no doubt. I am yet to tackle my tax too!

  8. Congrats on your successes. You have put a lot of work in and now it is being repaid. Hope the improvement continues so that you can continue to offer your wares


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