Doesn’t happen very often does it? In fact, while I was writing this, I couldn’t recall when I had experienced it. I’m sure I must have yet it would have been so long ago, I can’t remember.

Let me tell you what happened this week…

I belong to a well-known trade exchange which I have found very useful for my business. I wanted to purchase a suitcase from a particular store which usually takes trade dollars. From time-time store will limit use of trade dollars if they have reached their maximum for month. Anyhow I quickly discovered this wasn’t going to be my lucky day.

I walked in and assistant who was sitting down behind counter (and remained there), didn’t smile. She barely acknowledged me with what looked like a scowl. I had interrupted her reading time. (She was so busy, there was no-one in store). I then politely (yes I can be polite sometimes) asked her if they were accepting trade dollars as I wanted to purchase a suitcase. She turned around to owner who was sitting behind her doing some bookwork and repeated my question. The owner stayed seated, didn’t look up and told her assistant “No”.

The assistant then relayed to me that “we are not accepting trade dollars at moment, but we have good deals for cash”.

She remained seated all that time. I didn’t answer and walked straight out front door with my cash sitting in my purse.

No matter how good their “cash” deals were going to be, if I was going to spend my hard-earned money anywhere, it definitely would not be with them!

The ‘Colour- blind to service’ Copy Centre I had spent thousands of dollars with a printing company over a couple of years. A couple of times I was told by one of staff, when they’ve been snowed under “Mary’s too busy to speak with you at moment, I’ll have to get her to call you back when she’s got more time”.

It was same company who sent me a Christmas card with an invoice inside it!

Whenever I had to pick up my order, business owner would whinge about how hard business was…any wonder why?

Needless to say I didn’t remain with them.

Every crafter or, for that matter, every business person must learn to control spending from very onset of venture. As a matter of fact, you should not even be in business unless you have drawn up at least a simple business plan and budget.

Your budget should be grounded in reality and subject to change as circumstances require. In other words, if you income came in 20% below your projections, expenses will have to be cut to make up for hopefully temporary shortfall.

One serious mistake a small business person makes in a situation like this is to assume that s/he will make up income shortfall and continue spending side of budget without any adjustments.

Most small businesses are undercapitalized to begin with, so it really pays to be conservative. I have always tried to make sure that a craft is making enough money to pay for itself before stocking up on more supplies or new equipment. I try to get a substantial down payment if

an order would require that I increase my raw material inventory. Everything that I do must be self-supporting.

Do some research if you plan to add a new type of craft to sell. Try to determine if there is a market and if it looks profitable. Again be conservative in your assumptions and start out slowly.