• Deb Doyle, The String Alliance

Stress Less; Knot More Part 3: Having a Plan Saves You Money

I know you run your business on a razor thin margin. I know you meticulously stretch every dollar. That's why the additional savings that comes from a well thought out plan might allow for some much needed wiggle room in the finance department!

A plan leads to fewer mistakes and do-overs. This allows many businesses to avoid rush fees and extra shipping costs (not to mention, the overtime and stress of scrambling to finish last minute!) Alternatively, you can buy ahead and take advantage of volume discounts. Longer term media and sponsorship contracts are just a few of the investments a small craft business could leverage to save money overall.

What would you do with a few extra dollars at the end of a year?

Pay yourself a salary? Hire more staff to offload tasks and allow you more time to plan? Take a vacation? Invest in the business? More advertising? A dedicated social media person? Upgrade your website or other business systems? All these start with implementing a plan.

Tying it All Together

I know how much love and effort goes into your business, and you understand how a plan will bring peace and joy to your life. Yet developing a plan can be overwhelming! In our next post, we'll talk about how you can break a big idea into actionable timed-out steps that help you achieve your goals.

In the meantime, if you'd like some help getting started on your own plan, let's talk. Assisting small local yarn and craft stores is my passion. Breaking your plan into small manageable steps and helping you get ahead of the curve is what lights my fire

#TheStringAlliance #businessplanning

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