Hmm...thoughts...

I just got off the phone with two different sales reps who I was pumping for information about sales in general (not just my product line but overall in the industry) as a way of gauging what's going on in the larger marketplace. Now I fully realize that I may be jinxing myself here but I was really interested to hear from both that sales are basically at a standstill. Truly it doesn't come as a huge surprise expect for the fact that our sales are pretty much on par with last year. Granted, we're selling more of our lower profit margin products but at the same time costs have been curtailed so our profit margins are looking decent. I was kind of surprised to hear that industry sales were that bad based on our year so far. Course it makes me even more happy about were we are right now!

One of the sales reps also recommended that in terms of stocking up inventory for the holiday season to really work on building up the lowest priced items because that's what seems to be selling right now and she suspects (as do I) that it will remain so through the end of the year. Pretty much along the lines of what I was thinking of doing but good to have some outside validation.

Course in the meantime admist news of slowing industry sales I happened to find the perfect little retail spot today. In the back of my mind I've been thinking that it might be nice to get a space in a great location that I could use as a 24x7 workspace (build the workspace into the back and then I could use it whenever needed as opposed to my scheduled workspace hours) and then have a small retail space upfront for my products and a few others that I like/trust. I'm not even sure if this space is truly availalbe - it just looks empty - but it's in exactly the neighborhood I want, a neighborhood that has my target market nailed down, is in the heart of the little community. From what I can see from the windows it's a great blank slate that I think someone (me?) could do a lot with.

And then the realities of what that means hits me. Not only would it be renting the space but also buying the necessary workspace equipment. Since you'd also have to be open at least 6 days a week in that neighborhood (if not 7) then I'd probably want to hire at least one other person to help out so I could see my husband occasionally on the weekend.

The funny thing is I'm not ever someone who dreamt of opening up a retail store. I don't even like to shop. But I'm believing that if you have to have workspace anyway and can't literally work 100% from your home then you might as well have workspace that can also work for you from a retail standpoint. Anybody have any suggestions because I'm at a lose here...

The Joy of Vacation

I actually have a bunch of things on my mind today...new product ideas & business development opportunities...thinking about bringing on a partner (and as such giving up some of my equity)...the role this current US economy is going to play on my business short-term with this season's tradeshows (and as such how much inventory should I have on hand?) and longterm with the potential fallout of competitors and retailers in the next 12-24 months...if it is 12-24 months can my business handle it from a cashflow perspective...

And now that you have a rundown of all the thoughts running rampant through my mind...lucky you...

But the main theme of today is about vacation. That glorious word that makes you think of crystal clear beaches and umbrella drinks or shoshing down champagne powder with an o'so handsome and flirtatious ski (or snowboard) instructor...mmm...vacation...

But the reality of vacation - and I believe this is the same regardless of whether you're an entrepreneur or corporate cube rat, is that you essentially spend the week before vacation trying to cram at least two weeks worth of work into one week so that you can leave feeling like everything's been accomplished and you'll return to an empty desk with a clear mind. However we all know that you actually come back to a full email inbox and a list of to-dos a mile long. Right now however I'm in that prior week franticness fully believing that if I can just get everything done (in addition to cleaning my house before the inlaws show up this weekend and pack, and plan and shop for meals for 12 people next week) that I'll actually be able to leave this business behind for a week and enjoy my vacation. So why then am I planning on bringing my computer and blackberry on said relaxing vacation? You know, just in case I find myself bored with nothing to do...

Is The Free Ticket Worth The Cost?

I was excited to find out that I have upwards of 40K skymiles via my business credit card. Well, depressed to realize that over the past two+ years I've spent enough money to earn that many miles but heh - now I have miles to spend and I do have places to go!

When I originally got the card I couldn't wait to spend the hardearned miles on personal R&R. Well, the realities of the ebb and flow of cash flow is such that now I realize that I really need to use those points for business air travel and not much-needed personal forays. So I went online today figuring that with the amount of miles I have I can certainly get a ticket from the Pacific Northwest to Chicago for a tradeshow.

Well yes...I can...in a way. Apparently I can get tickets for the days and times I need but it will cost me an additional 7,000 miles. Alternatively, I can get tickets for the day and time I need for the trip out there and the right day for the way back for less then the amount of miles I currently have...aka...for free. So what's the catch? If I take the free ticket I will end up being routed through Atlanta on my way home. Yep, put a picture of the United States in your head right now. I would travel from Chicago to Atlanta, have a layover, then get back on a plane and travel from Atlanta home. Is it just me or is Atlanta not exactly on my way home?

Truth be told I am considering it. My thinking is that I'm usually so wiped out after these tradeshows that I sleep all day anyway so I could just sleep on the plane. But on the other hand that's a really backa$$ward way of getting home.

Showing My Age

Apparently I'm getting old and was reminded of it based on two conversations in my workspace this week.

The first occured with some other workspace partners who are guys in their late 30's who run what I would consider a trendy and funky business. I honestly can't tell you how it came about but at one point we were talking about the bounty of produce available in the Pacific Northwest this time of year and then the conversation turned to how we all wanted to learn how to make jam so that we could preserve the fruits and enjoy them later in the year. This conversation went on for a good 45 minutes before one of these "fun and funky" guys pointed out that you know you're getting old when you get excited talking about how to make jam.

And then today, my employee (who is sadly leaving me in two weeks for a new job in another state) mentioned how a friend of hers was going to be working an event for 'JT.' Truth be told, I had no idea who this 'JT' she was referring to was but she was so excited about it - literally giddy - I played along and said something like "REALLY?" while simultaniously trying to cover the very confused look playing across my face. As I've since learned, 'JT', for anyone out there as old and uncool as myself, is Justin Timberlake. And yes, I do know who Justin Timberlake is - I'm just apparently not "in" enough to recognize his name based on his first two initials. But apparently if you are "in" enough it's something to get quite worked up over.

It's a tad depressing to realize you're getting old...so to drown my sorrows I'm off to figure out how to make jam.

Two Months and Counting

Two months from today I will be boarding a plane and heading to beautiful Las Vegas for the first tradeshow in the flurry that is the Fall Tradeshow Season. Yes, it's a season unto itself so it gets to be capitalized.

Two months from today to get everything needed for what will hopefully be a solid buying season for retailers who are looking to stock their shelves with new and exciting products for the holidays. And man oh man do I have a lot to do between now and then...it's just starting to hit me how much needs to get done.

One of the best things a lot of the industry trade publications do is offer businesses who are going to the shows a chance to advertise for free. However, all their deadlines are looming in the near future so I need to sit down and get to work to get them the information they all need.

Then there are the actual paid advertisements that need to get ready to be sent out on time and the direct mail marketing piece deadline that is also starting to breath down my neck. I'm also trying to figure out how the booths will look this year as I'm constantly trying to ratchet the entire brand identity upwards while still desperately counting my pennies.

And last but not least, I'm also trying to build in enough of an inventory so that I'm not caught with my pants down but at the same time and hoping upon hope that things are so successful this year that I am caught pantless...very pantless.

Oh yeah, let the joy of the holidays begin...as soon as I turn on the fan to run some of the heat out of the house that is.

What makes your heart sing?

There was a story on our local NPR station about the new ice cream store that opened up near my house (too near my house...it's like the ice cream is constantly calling me...and I have absolutely no willpower!). Turns out it was started by a young woman in her late 20's who used to work in an ice cream store back in the Northeast while going to college.

Post college she did what many of us do and took a corporate job that made decent money and was somewhat challenging and stimulating. However, to use a phrase I just read about in the Alpha Dogs book, it didn't make her heart sing.

After a long period of introspection she realized that the time in her life that she was happiest was when she was working in the ice cream store so she set about opening up one of her own. It's a beautiful store too - a real grown up/minimalist decor with absolutely fantastic flavors like salted caramel (which is currently in my fridge calling my name) and balsamic strawberry. And from the looks of it she's doing really well as evidenced by the line I stood in yesterday to get my ice cream.

I've been thinking about whether what I'm doing makes my heart sing ever since I read that phrase earlier today and I have to say that it does. Sure, the pay sucks, but I really do love what I'm doing and really do believe in what I'm doing. Apparently I'm not alone as the Wall Street Journal recently reported that 59% of small business owners wouldn't leave their business to work for someone else even for more money.

So let me ask you, is what your doing making your heart sing?

New Respect for Working Parents

Not that I actually didn't already have oodles of respect for them but last night I got my taste of what it must be like. We had massive thunderstorms here ALL last night (very unusual for the Pacific Northwest) which sent one of my dogs into an absolute meltdown. In her defense, she is a rescue and was shot (yep, with a shotgun) by her prior owner so I can understand how loud noises make her a little jumpy. However, her being up and crazed threw the other pup into a high state of confusion so they were both up and wanderinng the house all night. They wanted on the bed, they wanted off the bed, they wanted to go downstairs, they wanted to come upstairs, they wanted to dig a giant hole in our hardwood floors...that was my night.

I'm not kidding when I say it went on ALL night until finally around 4am I had the sense to make a "safe den" for the post-tramautic stress dog in our closet. Once I was in the safe house with her she calmed down significantly and I was able to catch a few winks on the floor of the closet until around 7am.

Top it off with the fact that I had a phone interview with a trade journalist first thing this morning that I stumbled my way through. Can't say I was at my best during that one!

Yeah, I don't know how you working parents do it. So let me tip my hat to you...and now i'm off to find myself some much-needed coffee.