Really, reducing costs for the biz started last fall when I changed insurance providers. The savings was massive. I will have to dig into the numbers, but it was easily several grand. I think $6,000 is being conservative.
So, with phone savings, trash savings and insurance savings, I lowered my annual costs by maybe $15,000, just on the business side, not personal.
That's encouraging. The biz can survive. It just takes diligence. Take whatever I made last year and add $15,000 to it for this year.
Obviously, I need to keep looking for costs to wring out, but there are only so many non-labor costs to work with. It's not that labor costs are off the table, but I think we're running lean, now, and there's a human aspect to cutting labor costs.
Throw in the goal of reaching 2014, when all our term-debt will be paid off, and when you consider the money that is now going to term loans, that'll add another $40,000 to cash flow. Really, $55,000 isn't a world-altering sum of money, but it's equivalent to the annual income of a lot of folks with good jobs. It'll also come at a good time: when I'm finishing law school. I can use it to pay off my personal loans and start my law practice.
So, things are good, but the name of the game is still survival. Move forward, one step at a time. Right now is a tense time. The weather is not cooperating and we're not getting work. Still, need to just stay in there and take our swings. Every month the biz is still standing is a minor victory.
At the moment, we're pretty strong as far as being current with everything, but next month will be a tough one. We'll just have to keep playing the cards we're dealt.
No comments:
Post a Comment