- JpcashflowParticipant@jpcashflowJoin Date: 2007Post Count: 575
Hope you are all well and i hope 2012 has been a productive year for you?
Moral of this post is that in the last three months we have turned our business around. We have focused on reducing cost and changing the way we do business.
My wife and I also have a joint income of 165K per Annum through PAYG.
We don't have any liabilities and the only debt we have is our PPOR (105K).DerekMember@derekJoin Date: 2004Post Count: 3,544
Great news John.
Tis not all doom and gloom out there.
Be interested to hear how you 'turned business around' if you don't mind. Might help motivate some others on the forum.JpcashflowParticipant@jpcashflowJoin Date: 2007Post Count: 575
Always will to help like other helped me.
1) Split shifts – Rather then having one person for a whole day at our shop we have two people know: One person does the mornings and the other the afternoon. Why? Does not make the day seem long, they are more productive and happier to be there.
2) Cutting cost on items we don't need: Just because one customer wanted some thing does not mean the other 9 do.
3) Looking at different suppliers for goods: Every one wants business!!!
4) Better trading hours. We open early close a bit later and we have gained some market share.
5) the biggest change has been cash flow – My wife and I had some hard times business so we both went to work some where else: It cost me $18 a hour to have some one running my shop and i earn $60.00 a hour some where else.
6) Attitude: We both used to hate our bussiness becasue it was not delvering a large income as we expected.
But even though we were not drawing such a huge wage at least we are. There are so many bussiness not making hens meat.
Rather then stressing about things we cant controll we know channel our energy to things we can do.
Thats why its time for us to invest not rest