# Business changes/ economy



## sisterpine (May 9, 2004)

It seems that our normal early spring boost is not going to happen as soon as we had hoped so we are doing some cost cutting etc. I was wondering if any other home business folks are looking at making the buck stretch a bit further. So far we have cancelled the credit card machine (which I can sell for a few hundred) and the fees for that will save me about 50 per month. I can go back to using propay even though it costs more per use business is slow enough that this is a better deal. Cancelled bill pay from the online banking system 10.00 for that DH will write the 3 checks or so we need written each month- most other stuff is on auto pay at this point. Am also taking a serious look at the craft shows we will do this year...afraid I wont be doing any high priced ones for sure. How bout the rest of you crafters....what is changing for you this year?


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## clovis (May 13, 2002)

Business has been pretty slow for me.

I don't have any more expenses that I can cut. Most people in business wouldn't believe how low our costs are outside of the product we buy.

Of course, I could always cut the quality to save a few pennies, but I refuse to do that. I already sell the best products in my market, and I will not sacrifice quality.

I've been spending a ton of time trying to get new products to market to improve sales down the road. This is a tough thing to do, especially since it costs so much to bring a new product to market. I have absolutely no idea how it will do when I list it on ebay. Cash flow is becoming a real concern, even though it has improved slightly over the past few weeks.

I'll be looking to selling at my first shows this year. With all the expenses and time involved in doing shows, it will be a real gamble for me. When you think about it, it is really expensive to do shows; gas, wear on the car, lodging, food & drinks, set up costs, display samples (at least for me)...it all adds up, and who knows if I'll sell the first thing?


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## sisterpine (May 9, 2004)

That is exactly how I am feeling. I have some ideas for new products but don't know if folks are interested in them yet. I always listen when customers say "you should make such and such" and have written them down to look at later. Now is later...new products also provide me with much needed "new hope" for a better year. Unfortunately this is the 4th year of my legal business and i have had to file taxes at a loss. I expect the IRS to capture me at any time and tell me my business is just a hobby . I hope to be able to explain to them that i thought i had a profit this year until the economy crashed up here so they should give me a few more trys ? sisterpine


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## clovis (May 13, 2002)

I probably understand more than you know sisterpine.

I haven't hit the desperate mode yet. I am still in the 'moderately concerned' mode about poor sales.

I do feel a little better knowing that no one in my industry (I use that term very loosely) is selling much. 

There is a tremendous amount of downward pressure on prices for the stuff I sell, which creates another set of problems. My stuff is top quality, but my competitors are slashing prices on their stuff, which truthfully, is trash compared to mine. I am not just saying that....my product is very high quality stuff, and I have worked at great lengths to ensure that top quality edge.

You are right on about new hope by introducing new products. Some of the stuff I do creates an investment of both valuable time and money. It is easy to lay hundreds into a new product, and really hard to see it sit on the shelf unsold. I had one product that I thought would fly off the shelves faster than I could make them. After a year of sales, I still have half of the inventory. You wouldn't believe the time and money I have invested in that project. I literally have weeks upon weeks of agonizing work in that thing, and I can barely give it away. On the other hand, there was a project that I _almost_ rejected. In some respects, it has been a run-away seller for me and a cash cow. Go figure. 

I'm not sure where I am going with all this, but there it is.

You know, sisterpine, if it all falls down around me, can we come to Montana and live with you? We fell in love with Butte, and if I couldn't live in Indiana, Butte would be my next choice!


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## sisterpine (May 9, 2004)

You bet, we'll turn one of the work shops into a cottage lol. This is normally a very slow time of year for us. I did put money away to pay the bills during this time . I think I am feeling pressure from the pricing thing as well. Beautiful stone sets that I know can sell for over a hundred dollars are being sold for less than a third of that just to move inventory. I also dont want folks to think that my jewelry is not top of the line because it is~ so kind of between a brick and a hard place. Must sell it to make more and must sell it at a good price to buy more silver and gold etc. Will be doing a spring market at our little inside mall Saturday but I dont have much of a good feeling about it. We usually stay slow till around April for some reason. sisterpine


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## ChristieAcres (Apr 11, 2009)

I have a home office and DH has his machine/welding shop here, too. In the last year, he bought an old van and outfitted that for mobile welding, too. Last Feb, I launched our website (my 1st stab at one). We canceled anything we didn't absolutely need & over a year ago, dropped cable tv. DH turned his efforts to reducing our energy costs by modifying our wood stove (replaced the clothes dryer, water heater, effectively heats our home, and I can even cook on top of it). We doubled our garden. I utilized less expensive ways to market our businesses. It has been a tough year, so I took on a full time day job working for a buddy who owns a successful website business (?!). Yes, that was surprising to me in this economy, but I am happy for her. Now, I take care of all of my work responsibilities in the evening. So far, keeps me pretty busy, but managing okay.


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## lharvey (Jul 1, 2003)

Ok where to start.

Business has been steady. Down from previous years but steady.

Last August was the worst month ever in the past 12 years. Was it in the black? Sure it was to the tune of $156.00 but it was a nerve wracking month to say the least. Every thing that could break, broke and somethings, like my truck twice. But we survived.

I have residual income every month but not every month is the same. Some months more, some months less but the number of accounts has remained pretty steady, gain one loose one type of thing but I still seem to add customers all the time.

My desktop support customers and some of my network customers are really feeling the crunch and have cut back very much on how much they use me. I understand this as for them, times are tough. Some are driven by grants and trusts so if they don't get the money, they can't spend it.

I've still got my three right hand men (since 1998) with me even though they aren't getting the normal 50 + hours that they used to. Keeping them running for 40 hours is still achievable. These are great people and they too have been helping to keep my costs down by maybe not using the company truck/vehicle to go to the movies, store and dump. :lookout: This was really good when fuel was almost $ 5 a gallon. They have done this on their own. 

Looking back to 1998 I had never dreamed that I could have make a whirl of this but since starting, there hasn't been one single month in the red. How has this happened? Great customer service, surrounding yourself with the BEST people you can, and never buying something you can't pay for out rite.

Some day, I may even advertise and really launch this puppy.

Just my two cents. Adjusted for Obamanomics.


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