Ugh my business is going through a rough cash-flow period and I will be spending the next few days rectifying it, mega-fun weekend ahead, NOT. If an error or mistake occurs once it's a coincidence, if it occurs twice, it's a trend. I'm dealing with a new site which is causing my cash flow to continually creep into a deficit.
I sell something on their site. It then takes 14-30 days for the funds to reach my bank account. In that time I have to post the item (at my own cost until funds clear.) Now that's not too terrible a system. But imagine if I am selling 50 goods A WEEK all which have to be posted at my cost of an average £2 per item. That's £100 I have to fork out WEEKLY for ONE site. And I don't get that money back for 20+ days! So in a 21 day period I pay out approx £300 and don't receive any money INTO my account. Hence cash flow crisis.
There's also that wonderful piece of information that keeps bumping into my head that says 'most new businesses fail in their first year due to cash flow issues,' so I'm really having to tighten the reins and change my current thinking pattern (re-purchase what I've sold so I can sell it again as a priority when keeping a working cash credit is actually more important.)
It's REALLY hurting my business. Apparently the payment restrictions clear after a few months but for now I'm spending most of my days ripping my hair out frustrated that I can't touch my own hard-earned money.
And I really need to change my own habits (as highlighted before) so I'm actually going to enlist D as an outsider to help me (since he does this sort of thing at work.)
Now for some reason I can listen to people giving me help and advice but when it comes to D it just pisses me off and makes me go crazy. So I'm really going to have to try remember I am asking for his help and therefore should not lose my temper or go crazy at him. We'll see.
deep breath, all this crap will get easier. And I'm the exact same way about advice -- a hobo on the street could tell me how to do something, and I'd be like, "Why, thank you, helpful hobo!" But let Chuckweasel try to teach me something I KNOW he knows and I don't, and it just hits my "Who the fuck do you think YOU are, chummy?" button every time.
ReplyDeleteYeah, D has a whole "smart-ass" attitude which makes me want to rip his head off and even when he doesn't have the attitude on I remember he's had it before and it gets my back up anyway.
ReplyDeleteI know it'll get better just right now it's making em want to hyperventilate, I finally get the quote D was spouting at me last night
"Q When is the best time to plant a tree...A...25 years ago...Q..When is the second best time to plant a tree...A..NOW."
So basically I should have made a working capital when I began in September, but the best time is to do it NOW that I've realised, not in 6 months when I am up to my neck in poop.
I say have D tell hoodyhoo what you should be doing, and then she can tell you. That way, no one makes faces at D or gives you the "should have asked me in the first place" tone/look AND you get the benefit of receiving helpful information!
ReplyDeleteChanging spending habits is really hard! You have my utmost sympathy and two fuzzy kitty hugs for support.
Thats a great idea Amber :) although hoody may also want to punch him by the end of it too. So far D has been operating as my jargon buster only.
ReplyDeleteI think i get frustrated because he knows how to do it so I want him to do it, not just keep telling me to do it myself.
I think this has merit -- everybody can sign up for a "Significant Other Advice Exchange" so we never have to listen to THAT TONE again!
ReplyDelete:) and even better it can all be done over the phone because phone advice is better than face advice
ReplyDelete