Thinking Like an Entrepreneur

Dear Friends and Family,

I just put together a preliminary P&L for the month of January for my new business. I definitely lost money the first two weeks. I almost broke even the following two weeks. And, in the process, I'm putting together my lessons learned for the month.

1. I need more clients. I have two clients right now. Obviously that's not a sustainable business. February will need to focus on growing sales.
2. The business can't afford any extraneous expenses. Yes, I ordered business cards, but I think I'll need those to grow sales (see above). But, the $50 I spent on ink in January seems like a luxury in retrospect. For February, I'll need to avoid the temptation to spend money on things that are not essential.
3. I need more time. I need to do things like put together a website and go through my business mail and stuff. I've been working part-time at old work. I think I may need to rethink that strategy sometime in the near future.

Still, I'm happy. I did better in January than I thought I would. I'm jazzed.


Cheers!
mouse