Business Plan

These two words on their own aren't so bad. 

Business: "Ain't nobodys business but mine and my baaby." 

Plan: oh I've got a plan. 

But together they are very scary and I don't know where to start. Or I didn't know where to start that is as of last night. 

Business Plan.

I've decided to do something that was comfortable to me in order to get the ball rolling. Now hold on! No one said anything about going into debt for this studio. I'm not planning to run off to the bank with my shiny new Business Plan and slit the throat of my dream before I even have the first workshop. Part of my needing to put together a plan is to help me determine how long I can stay afloat with "out-of-pocket" funding and I also need my other half to SEE what's in my head. I've said it before and I'll say it again, it is down right hard to extract computable information from an IT professional.

I've become a crunching numbers nerd over the last 3 years out of necessity. Dave Ramsey told me to put all my expenses down on paper to construct a budget. I did it but my ability to add numbers was not so hot so I needed a spreadsheet to do the math. I have literally tracked every $ for the last 3 years and categorized it. 

Anyway, I'm telling you this because I'm going to tell you this. My Business Plan doesn't have to be anything more than a spreadsheet to start with. I began by listing all my "start up"/one time expenses in one section and then all my re-occurring expenses in another and projected increased expenses like inventory and workshop preparations and then calculated quarterly taxes, things didn't feel so overwhelming anymore. I obviously had to make another section in order to map out the income. I might have aimed sales goals a little high for the first month or even the second but by the third or fourth I think it's pretty realistic. I believe by month number four I could break even for month number five.

What does that mean? That means that with a little love for 3 months, month 4 or 5 will pay for itself. Here's the problem...Time. Like I said. I aimed the sales a little high not because I'm fudging numbers but because I'm over allotting time spent in the store. I will need some help in that area. If I can't dedicate enough time to the store then it will definitely take longer to break even and will cost more out-of-pocket cash. More out-of-pocket means work harder and longer at my REAL job to supplement my new bills and means less and less time spent in the store.

Putting these numbers down on paper (spreadsheet) has helped me to realize a dollar amount for expenses and has nether increased my excitability nor concluded demise of my dream. I think there is wiggle room. I've now know that this won't be easy. It's going to take hustle. I think I will refer to this adventure as double dutch. I'll stand near the ropes, lunging and rocking in place to "feel" the rhythm of ropes turns. Then once confidence is high enough, and I've siked myself up enough, and I think the timing is precise, I'll make the leap!