Working at a small company has taught me a lot about business in general. I have rewired my brain to check out return on investment instead of just cost. I also discovered a great deal about the battle between money and time, project management, and accounting. 1. Cost Analysis – In business you take a look at a potential cost and find out if you will get more than the cost back.
You can apply this at home to purchases. The return doesn’t have to be financial but is it justifiable? 2. Time versus Money – In business time costs money. In personal fund we can consider the convenience of something versus what we earn per hour. How long do you have to work to be able to cover that particular item or service?
Is it still worth it? 3. Project Management – Projects are everywhere in business and in life. Goals are projects in a way. Achieving financial freedom is an extended task and requires careful planning. Setting deadlines and goals on the way gives you milestones to work at and eventually finish it! 4. Accounting – Businesses have to account for every cent they have. We should do the same so we stay on monitor for goals, avoid fees, and have a good notion of where our money will go. Businesses and personal financing as well will fail without accounting.
- 79th Annual International ISM Conference Proceedings – 1994 – Atlanta, GA
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Do the same with your booth. Have a photo. Sometimes looking at the big picture may help you identify your poor spots. In the event that you still find yourself struggling with this, seek out the assistance of a detailed friend. There are people out there who do that for a full time income. You might want want to employ one or get their advice. Among the last questions to ask yourself is: Are my prices reasonable?
Walk around your store and appearance to see what your fellow dealers are selling similar items for. Check around other stores in town. Ask your store supervisor or owner for advice. You could have the most beautiful booth in the store, if a prices are high too, chances are you are capturing yourself in the foot then. Do you have prices on all your items?
This is one of my family pet peeves. I seem to truly have a knack for selecting items without price tag. I no longer ask how much something is, I just keep moving. It has to be something I’m really thinking about before I take the time to go ask someone.
So ALWAYS make sure your items have been priced. You don’t want to possibly miss a sale for this reason. Tags fall off or these are removed Sometimes. So always double check when you can. What’s even more irritating is picking up an item and the thrift store crayon price continues to be on underneath.