Immersing myself into my business so completely has been interesting. Not only am I attempting to run something that would be better served with four hands on the tiller instead of two, I am also attempting to find some money to re-finance my business with. That means writing a new business plan. I remember now how much agony it was to write my first one 12 years ago. I am also working with the Small Business Administration (SBA) rep in my area and attending seminars on helping dumass small business owners navigate the labyrinth and mazes of the world of big finance.
My SBA rep did tell me I was managing the money I did bring in about as well as it could be managed. What I need is more sales. I have learned to make do with less sales. Both of us realize that in order to make more money, I have to spend more money. And not having more money is the problem. So my only alternative is to borrow it. To find money, I need to appear to have a better grasp of the future than I do. It's always about the future ain't it?
He has given me some serious homework to complete. First I have to study all those important accounting entries my shop has generated over the last 4 years. Then using the percentages of costs as part of the Gross Profit, inject them into a worksheet to predict my future based on projected future gross sales. While I would be happy with any positive growth instead of the slow downward trend I have been experiencing for the last few years, the SBA guy insists that I need numbers to woo and impress the Bankers with. And they need to be realistic numbers. I would prefer to pull them out of my ass, but he will not let me do that.
Mind numbing stuff for sure. Accounting, spreadsheets, cash flows and overhead are not terms I enjoy watching bump around the ole cranial void. They upset all the free spirits up there and before I know it, everyone is unhappy. Like someone turned on a spigot full bore and let it run, my mind is being poured into things and duties outside my comfort zone. It is interesting, but my unfamiliarity with this "next" level of business stuff leaves me feeling overwhelmed and exhausted. And I still have to find the energy to be pleasant to customers, vendors, and keep the wrench turning turning. I will say this. The bike shop is anything but the same ole, same ole this year. If I survive this summer, I will indeed be patting myself on the back come September.
Keep it 'Tween the Ditches................
(452 / 7473)