Like many small business owners, this year has been a challenge for me. Business really dropped off right around this time a year ago and hasn't ever really recovered.
Things got bad enough that for a while, I had to consider bankruptcy if we continued to tank. Luckily, things have stabilized. Times aren't really good, but they're better than they had been.
I set a goal of just getting through the year. This economy is going to last a long time, and it's not going to be easy staying afloat until it eventually recovers. All I can do is try to set manageable goals and hope that by putting one foot in front of the other for long enough, that I eventually come out on the other side.
If we survive this year, we pay off a couple of notes. 2 of the vehicles we bought will be paid off. Also, in October, our warehouse lease drops by a couple of hundred bucks.
A year ago, things were booming so much that an extra thousand or so in expenses just wasn't that big of a deal to me. Now, if we can save $1,200 a month, that represents about a $14,000 positive impact to cash flow over the course of the year.
A thousand here, a thousand there, and pretty soon you're talking about real money.
I think the company is finally right-sized. I was slow to cut, but in the end, I wouldn't do it differently if faced with the same choices. My employees weren't widgets, they were people. It was gut-wrenching to eliminate jobs of so many people. It's not the type of decision you make lightly, quickly, or with only the bottom line in mind.
Still, the organization that has emerged is leaner and retains almost all the same capabilities. I do expect sales to recover slowly over time. It feels like I'm building the organization up again. We grew quickly last time. Maybe we'll grow just as quickly this time.
So, with the end of June coming to a close, we're halfway through the year. A few months ago, that wasn't a foregone outcome, but we're in solid shape, now. It all just depends on what the weather brings.
Wish me storms!
The one bright spot in all this is that I have had respites from my constant worry whenever I watch my son play baseball. It's the one thing that truly takes my mind 100% off of the trials and tribulations in the rest of my life.
