The past few days have been a whirlwind. I’ve moved into my apartment and got a cheap used twin mattress on craigslist to sleep on. It’s wonderful, really it is. It still doesn’t feel like a “home” yet, but I think that will take some time and other people visiting to make that happen.
Like a hotel
It actually feels like a hotel. Really. When I went on my trip down to California I stayed in 2 cheap hotels, and that is what my place feels like now. Only not a cheap hotel, maybe like a decent midrange hotel.
I think this was a good move. I’ll have to double pay for office space for a month, but in the long run working from my apartment will be a good move for my business and for my sanity as well. My traditional office had no windows, nothing but white walls. 2+ years of that, and I think I’m starting to go a bit cooky.
Better work environment
I’ve setup a little space in my living room for my business computers and its a much better work environment. Plus, I’ll be able to save more money by making lunches here. We’ll see how it all pans out, but so far I’m feeling pretty good about getting this place. Money is of course insanely tight, and I had to sell the last of any value possessions I had, but hey, I’d rather have a place to sleep than some electronic equipment! So, that’s that.
Business Update
With a few good nights sleep, and not sleeping on the ground, my productivity is back way up again! I didn’t realize how much my situation in the office was really affecting me (in all areas of my life) until I was out of it. My brain is moving much smoother now, and my business performance is up as well.
My total business revenue will be up near the 10K/month for this month. My new Plan B project is starting to make some decent revenue. The problem is that revenue ain’t profit! We still have some significant costs in my Plan B business. I can scale it up pretty quickly as we add clients, but our gross profit margins are in the 20-30% range. I think this project potential is around 30K monthly. That is revenue though, GP of 9-10K would be awesome though. I could avoid the BK and start really moving on my business debts.
There just isn’t enough time in the day!!
My Plan A business is coming along nicely, but won’t produce any revenue for at least another 6-8 weeks. It could generate in the 10-15K/month range with much higher profit margins (70-80%). I think its either going to be a big hit, or just kind of languish. We’ll see. I’ve been working on this project for almost 8 months now, so I’m excited to see it coming to fruition.
“Plan C” Project?
I might be crazy by trying to launch another project right now (I am). But, I have a decent idea that could potentially generate some profits within the next month or so…which is what I really need. The problem is that I’m not sure its actually a good idea, and I don’t want to waste my valuable time on something that isn’t gonna fly.
I feel weird asking this, but is there anyone out there that would be willing to critique my idea and possibly give some pointers on it? You don’t have to sign up for anything, just e-mail me: admin @ debtkid.com and maybe give me your first name. I don’t want to publicly have people scrutinize the thought (in case it actually is a good thought!). Anyway, e-mail if you are interested, I won’t spam you or try to sell you knives you don’t need or anything, I’d just like your honest feedback. Thanks!
{ 2 comments… read them below or add one }
08/30/07 Have you told your employees of your personal/business move? Reactions? I can’t imagine working where you live, although many people do. There is no actual way of getting away from it for mental health reasons. However, you seem to have no qualms about combining your business/personal finances so maybe it doesn’t matter. My humble opinion is to not go off on another tangent until you get your financial footing.In a worst-case situation, what if more customers depend on you as a supplier and then you hit the skids due to financial issues? How’s the money situation with the business? Are you getting good legal advice about your next move?
Congrats on your new living arrangement!
As a small business owner I would say you perhaps should wait until Plan A and B are up and running on ‘autopilot’ before moving on to Plan C. Running two business models is plenty tough enough without the added distraction of another start-up.
Could you sell either Plan ‘A’ or ‘B’? That would give you a nice chunk of change and could give you the time necessary to work on Plan ‘C’.