M is for...Money

I was going to do M is for M&M's because I could 'almost' live on M&M's but thought I'd try a non confectionery blog post for a change :-)

Money, the root of all evil (and good). It's been a topsy turvy 11 years for Rainbow Designs with money being the constant factor in the topsy turvyness! Good days, bad days but unfortunately it is appearing there are a lot more bad days than good lately - this does not make for a very successful business.

At least I always have a supply of chocolate!!

It's great being your own boss and running your own business but it is also very stressful and, sometimes, even a bit depressing. All that work, all that time, effort and money for.....what? Well, for the satisfaction of having gone from an idea to a real business, from a dodgy website to a professionally made one, from 4 gifts to many, from no customers to many regular customers...

I've loved every (well most) moment of running my business BUT maybe the time is coming for me to move onto something else? Business seems to be slowing down and maybe even getting to the point of not been viable any more. Something I will have to go through with my accountant in the near future.

For now, I will keep running my business, getting up each morning and printing out the orders (sadly sometimes this is singular) and filling my noodle boxes and tins, walking to Toll and emailing suppliers, oh and writing on FB and this blog!

Thanks for being part of my journey with Rainbow Designs, maybe we'll continue together, maybe we'll go our separate ways. Either way - ONWARDS and UPWARDS!

and don't forget to eat LOTS of chocolate,

Jacqui (boss lady)

What Did You Do This Weekend?

I don't know about you but sometimes I feel as if I am just as busy on the weekend as I am during the week; but don't worry I still manage to put my feet up from time to time and get some well earned rest.

However for those who aren't aware, the life of a small business owner generally doesn't stop on the weekend - nor is it just 9 to 5.  I know the couriers aren't working on the weekend but I definitely am.

My Saturdays often consist of tidying up the workroom; restocking the packing boxes, sticky tape and tissue paper; printing out blank address labels; putting return address labels on our Toll satchels and hole punching the gift tags.

When it looks as though it is going to be a busy week, I often prepare some of our more popular gifts ready for the Monday rush.  However for the most part, we generally create the gifts as each order comes in.  Quality and freshness is always one of our main priorities.

And of course there is that ongoing job of "quality control".  Just last week I had a KitKat for breakfast and today a Mars Bar (all in the name of quality testing of course).

Our newest gift box, Old Blighty Chocolates, look like they are going to be super popular.  And with a selection of English Chocolates including Ashbury Caramel Cups, Peppermint Creams, Strawberry Creams and Turkish Delight, there is no guessing as to why!

What did you do this weekend?

It's not about the money, money, money

Running your own small business is definitely not about the money, I can certainly vouch for that!! It's more about doing what you enjoy, love even, and maybe even working when you want. Having said that, it doesn't mean you can decide to only work Mondays but more being able to fit personal life into your business life better. You are the boss afterall but this also means, the buck stops with you! You ARE the business so sometimes it might seem that all you do is WORK WORK WORK but hopefully it is something you're enjoying so it's not quite so bad!

I've been running my business for about 9 years now, it started off as part-time while also working (at the ATO of all places!) and then once things picked up a bit I was able to leave the ATO and focus solely on Rainbow Designs. The main problem I am facing at the moment is Rainbow Designs burn out. I have only even worked in the same company for as long as running Rainbow Designs once and that was my very first job, a LONG LONG time ago!! I'm trying to way up my options. Should I sell, close down, work part time somewhere else, hire staff....?? I've actually set myself a deadline and if things haven't changed (in a good way) things WILL change, good or bad! I think you can get stuck in the same old same old and even though you're not 'really' enjoying it, it just seems like too much hard work to do something different - this is where I think things can really go down hill. Just in the last few months I have seen over 5 small businesses, who have been running for about as long as mine, close up doors. Why I wonder?

I think times are tough at the moment in the retail sector (particularly small online businesses) but not tough enough that you can't make a living from it - I think you just need to work smarter and give yourself permission to have some time out. Maybe working part time somewhere else could help, even if it is just to feel like you can contribute to another business other than your own. It may even help with getting a fresh look on your own business. Volunteering is also another way to go - it need only be a few hours a week but something that can not only help others but help yourself feel 'worth it' - which is something running your own business can drag down. If you hit a rough patch it can make you feel like YOUR not good enough - it is your business afterall so it does feel very personal when things aren't all rosey.

One thing I do know, if I wanted to be assured that all the bills were going to get paid each month I wouldn't run my own small business - being employed is the way to go if you're just in it for the money I'm afraid!

When all things are said and done and business is getting me down, there's always chocolate:

Until next time,

eat some chocolate!!

Jacqui