I am starting this thread to become more accountable with the hours I put into my business and to reach my goal.
My goal is a very conservative estimate of how much my business could make in revenue each month.
Background:
We are two students with a small baby.
My husband is a serial entrepreneur (he's had two business ventures that were slightly profitable).
I am a graphic designer/business student.
We are $20K in debt. Our monthly budget is $3K in personal expenses for a family of 3.
We are hoping to be able to repay all loans and have a stable income by August 2015. The additional income after paying ourselves would go to real estate investing or future ventures. We have a couple other ideas that could really work.
The positives:
We have several assets.
$10K in inventory and adding
$5k invested on a website
$5K of equipment and supplies (computers, good camera, studio set-up)
The asset we are most lacking in is time.
We've luckily had our first sale, and 4 more ever since.
During the next few months, we should be advertising and promoting.
The best part about this thread is that it keeps us in line so we don't slack-off.
Progress today:
-My husband adjusted prices to offer free shipping.
-I batch post-processed 20 product images.
Our store should be looking slightly better once the images are uploaded.
I feel confident that we will "live another day" and just keep going despite the crap-tons of debt and the lack of income for several months. You may ask yourself how we are living? Acummulating additional debt every day. This has set us back more than enough times, but we try not to let it get to us.
Hopefully we will both be updating as we progress... If we make one more sale, I feel like that would boost our energy levels sky-high. Fuel for entrepreneurs, right?
Please let us know if you have any tips from working parents or about time management and stop procrastinating. My husband is trying the miracle morning but has been consistently hitting the snooze button until 9am. However, I wish I could follow on his footsteps and get on a better routine too. We go to bed late at 1am, which might be the reason why we wake up exhausted too... Any tips from parents with small babies on their first year?
We are certainly making it up as we go.
Thanks for visiting
My goal is a very conservative estimate of how much my business could make in revenue each month.
Background:
We are two students with a small baby.
My husband is a serial entrepreneur (he's had two business ventures that were slightly profitable).
I am a graphic designer/business student.
We are $20K in debt. Our monthly budget is $3K in personal expenses for a family of 3.
We are hoping to be able to repay all loans and have a stable income by August 2015. The additional income after paying ourselves would go to real estate investing or future ventures. We have a couple other ideas that could really work.
The positives:
We have several assets.
$10K in inventory and adding
$5k invested on a website
$5K of equipment and supplies (computers, good camera, studio set-up)
The asset we are most lacking in is time.
We've luckily had our first sale, and 4 more ever since.
During the next few months, we should be advertising and promoting.
The best part about this thread is that it keeps us in line so we don't slack-off.
Progress today:
-My husband adjusted prices to offer free shipping.
-I batch post-processed 20 product images.
Our store should be looking slightly better once the images are uploaded.
I feel confident that we will "live another day" and just keep going despite the crap-tons of debt and the lack of income for several months. You may ask yourself how we are living? Acummulating additional debt every day. This has set us back more than enough times, but we try not to let it get to us.
Hopefully we will both be updating as we progress... If we make one more sale, I feel like that would boost our energy levels sky-high. Fuel for entrepreneurs, right?
Please let us know if you have any tips from working parents or about time management and stop procrastinating. My husband is trying the miracle morning but has been consistently hitting the snooze button until 9am. However, I wish I could follow on his footsteps and get on a better routine too. We go to bed late at 1am, which might be the reason why we wake up exhausted too... Any tips from parents with small babies on their first year?
We are certainly making it up as we go.
Thanks for visiting
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