January wasn’t the best way to start off the year, as you can see below, but I did get the underlying structure of the business settled into place, so it wasn’t a total wash.
I have the rest of the year left for things to sort themselves into working order, so there’s lots of room for mistakes and wild tangents. I just need to remember to learn from my mistakes and it should be shiny…
So onto the carnage!
I was actually expecting January to come out negative because of the initial start-up costs for the business (overhead and inventory). I just wasn’t expecting the income to be zero, so things are a little less inspiring than had been hoped.
Income : $0.00
$0.00 Nada, zip, zero, zilch… *sighs*
I’m making battle plans now for stepping up the marketing in February. Some of which focuses on the timing of the posts (Facebook, Blab, MH$P, etc) and some of which focuses on the content.
I’ve got a lot to offer beyond just the model horses and it’s time to start those slinkies tumbling as well. *rolls up sleeves*
Expenses : -$68.45
$29.00 Post Office Box (6 month rental)
$30.00 Business License
$9.45 Office Supplies
You’ll notice that many of the Overhead Costs that I had planned on aren’t listed here. That’s because some of them don’t come due until later in the year and because I decided to hold off on the rest.
Inventory : -$139.38
As you can see all of the horses that are currently for sale in Etsy came from existing body stock. Which would raise the question: why on earth did you buy more bodies?
I blame the hoarding! … okay, maybe not. *grin*
The reason I bought the new bodies was because I wanted to add G3 and G4 molds to the gallery so that it doesn’t look so out of date. I also wanted to get a feel for what bodies had been sitting on the shelves for a while and that order made it pretty clear that G3 Warmbloods and G2 Thoroughbreds aren’t very popular at the moment. *pokes body box*
Taxes : $0.00
These are easy to figure this month, since the balance sheet came out negative. So that’s one good thing (I supposed). I need to download the Estimated Taxes worksheets from the IRS and figure out when and how much I need to send in.
Somehow I don’t think they are going to take ‘I’m not planning on making money’ as an answer… 😉