2011 Biz Goals

to do list by mondernemotive

I've been meaning to post these for a while and finally (the story of my blogging life) have them postable.

• Create a real business budget: I am a little embarrassed to admit this but I have never created a budget for my business. That is not to say that I didn't track my sales or purchases or my COGs (cost of goods sold). But I have never had an actual budget as a guide. Part of the reason was I was scared, how much would I actually need to make to move to part time work? or quit my day job all together? I also kept putting it off for other “more important” tasks. This year I’ve vowed to create a real budget for myself so I can track my progress, create goals and make changes when necessary. As of last week, I have finally created a real budget for my business. There are some scary numbers there but at least I have a real idea of what I need to make to move my business forward.

• Add three new products to my line. I would like to add lip balm, candles, and whipped scrubs to my line this year. I hope you are all as excited about these new products as I am!

• Add a soap of the month club. Done, you can check it out here.

• Add 2-3 new wholesale accounts each quarter. This is a big goal. After completely my budget I see the necessity of adding additional accounts if I want to move to part time work by the end of the year. This is also a part of the business that is a bit hard for me. It is really scary to put your business out there, especially when it is such a part of you. However, its something I have to get over if I want my business to succeed, so I need to suck it up and get it done.

• Create a production schedule. I’ve created a long term production schedule and am working on breaking the larger goals into smaller pieces. I feel so much better. :)

• Create a marketing plan. Marketing is on of my biggest business struggles. I’ve read books, gone to seminars and I still don't seem to have a full grasp of everything, especially a plan that I will consistently follow and refer to. So, I started seeing on of the free business counselors at the San Francisco Chapter of the Small Business Development Center. I should have a “real” plan in the next few months.

• Start blogging 1-3 times a week. Obviously this has been going ok, but could be better. I need someone to get tough with me - any volunteers?
  

The Soap Studio Part 1

A few weeks ago, I let everyone know about my exciting new soap studio and posted a few of my studio inspirations here. I would love to say that the soap room is looking as amazing as these studio spaces but I haven't quite completed my soap room project. I have basically gone from this:

to this:


which isn't horrible but it definitely needs some work. Here is the plan: Mister is going to build some extra shelving into the closet area, then I can re-organize a bit, reassessing the space to see if I need more organizational devices, I'll sew curtains to cover the closet (I haven't touched a sewing machine since I was 13, so that will be interesting), put up my bulletin board, then some art and I'll be much closer to my Etta + Billie soap studio vision. In the meantime, I am dealing with the semi-organized chaos. :)

Business Time: Accounting Class

Image courtesy of my alma mater

Last weeks class at the SBA really encouraged me to start taking charge and educating myself in the areas of business where I am totally clueless...like Accounting. After doing a bit of research about online courses and city college courses I decided that the SBA's classes would work the best for me. So, this week I finally committed to the three part series of Accounting Classes at the SBA, and they start tomorrow! For the next three Thursdays from 1-4pm I will be taking copious notes and attempting to ask extremely sensible questions at the SBA's downtown office. Wish me luck!

What accounting questions would you ask?

It's Business Time

image from StartUp

Monday I took a day off from the day job to take a business class at the Small Business Administration office of San Francisco. The class was produced by SCORE (small business mentoring and training). It was great to be in a room full of entrepreneurs, there was so much energy and enthusiasm. I took How to Start and Manage a Small Business which covered writing business plans, accounting (umm this is what I need the most help with), legal structure, marketing and small business loans. Each topic was presented by a different current or past business ownerI got some great info from the class and was glad that I went. One thing I definitely know I need to do asap is find more classes on accounting/Quickbooks (oh how I dread Quickbooks). I do not feel comfortable with these topics at all so I am on the hunt for some classes.

If you are considering owning your own business I highly recommend checking out your local SBA and SCORE chapters for classes and mentoring - they have many low cost and free classes that are great resources for entrepreneurs.

2010 Price Changes

At the end of this month I have to raise my prices. This has been a really difficult decision for me but it has to be done so that I am able to continue following my dream of building my business.

The price changes are the result of the increasing cost of raw goods and a realistic look at my business finances. Over the course of the last few years there has been a steady increase in the cost of many of the organic raw goods I use to make my products. For example, the cost of cocoa butter has increased by almost 50% since this same time last year. That is a huge jump!! Combine those increases with the fact that I haven't priced my products at what they are worth and I am creating a situation where I will not be able to sustain my small business. The only way to continue providing high quality organic products and build my business is to make a change.

In order to ease into this transition, I'm offering my current low prices until the end of the month and anyone who orders now through January 31 will receive extra free goodies. To stock up now visit Etta + Billie.

Thank you for your continued support and understanding!!

Best,
Alana