Opening Balance : £12.43
So It's day one of my four weeks to make £4,000 challenge.
Its not an optional challenge... its either that or I shut down my business.
I'm not one to give up unless there is no other option so here goes - one last
battle, one last chance and four weeks to save a business.
I hope you will join me along the journey as I scramble
through the next four weeks in my drastic attempts to change my business's
fortunes. I am literally going to try everything - and I will report back what
works and what doesn't and hopefully - just maybe - it will give you some ideas
for your business or even your personal finances.
So some back ground on my business and I.
I am Kat Jackson, for those that don't know me, a
ridiculously determined and stubborn individual from Cornwall. I am 23 and have
been running my business for about three years. I opened RelaxAhh the shop this
time last year at +Heartlands Cornwall www.heartlandscornwall.co.uk, along side
the shop I run various workshops calling upon my training in Drama Therapy and
my Training in Youth Work and Charities. Over all I have a successful business
model. My problem is very high overheads, and not enough collateral to be able
change my circumstances to have lower overheads or during winter months be able
to afford the overheads. With a push I know it is possible and once these four
weeks are over I will progress into looking at changing those circumstances.
RelaxAhh has a Facebook and a Twitter account along with a
website, www.relaxahh.com, although within the next week there will be a
MASSIVE change to the website.
So what I have done today to start this £4,000 - well to
start I've started this blog - which I hope will spread like wild fire. I think its really important
to look at how social media works for your Business. Through a mixture of
Facebook posts and Twitter feeds I have a fairly large online following which I
hope to use to my advantage through the next four weeks. A small reminder to
other businesses or people thinking of setting up a business, I have 600
Facebook fans, if every single one of them bought a £3.00 soap from RelaxAhh, I
would have £1800.00 - but Facebook likes don't work like that, and it can feel
frustrating but not every fan will buy.
I have almost finished the re-design of the website. My
current website www.relaxahh.com really doesn't work as well it should do. So a
new website that is much more user friendly and much more successful will be
uploaded. With the help of a friend and a fellow business person - Tim Hendy
currently from Liminal Design we shall
be able to include the new logo and updated branding into the website.
Hopefully this will help inform people better in regards to my business ethos
and attitudes.
I have also come up trumps today - thank goodness for the
power of Facebook. Truro.com is an amazing website which allows Cornish
Business to sell products online. If anyone is interested you should definitely
have a nosy. Liking their page on Facebook was certainly helpful as they
advertised some free stall space.
Its rare that opportunities such as free stalls come along,
so I was in there like a shot... so a date for your diaries... RelaxAhh will be
at Helston Street Market on April 5th.
I have also spent some time putting together a small
catalogue for shops and businesses in the area to be able to buy some products
from RelaxAhh at wholesale cost. There's not much to report there, as I sent
e-mails with these catalogues attached to three shops I visited in St Ives yesterday
- so that's just a waiting game.
So despite the fact that I haven't boosted my current
balance today - I have found an opportunity to make some money on the 5th!
So that's Day One Folks! What do you think? Let me know in
the comments. Please NO 'Its not possible' comments though, allot of this
journey is going to be powered by some positive thinking and i need an army of
positivity behind me!!!
Closing Balance : £12.43
I wish you lots of luck! I am keen to see how this all works out and hopeful of you being able to hang on to your dream x
ReplyDeleteThank you so much! I will posting daily so you can keep track of how it all pans out! :) x
DeleteHope it all goes well for you, it can be tough overwintering a business (especially if it's a very long winter!) but it sounds like you've got the sheer determination to make it work, good luck and fingers crossed xx
ReplyDeleteThank you!! Yes i am hoping that intense determination and stubborness will pay off and be a positive in this case! :) It has felt like such a long winter, so heres for hoping for an amazing summer! I will be posting daily so please pop back and keep track on how we're doing! :) xx
DeleteKat you have put so much into making your business work, you can't give up now, you've converted me, I think your products are brilliant, you have so much enthusiasm for what you do, you're friendly and make people feel welcome, I feel like ive known you for ages!
ReplyDeleteI have been speading the word as much as possible because I feel that someone like you deserves to suceed! X
Thank you! That means alot. I'm certainly not planning on giving up, so its a four week push! Unfortunately if all this doesnt pay off, i won't have much choice - however - i am always endlessly greatful to the AMAZING RelaxAhhrians!! :D Thank you for your support and thank you for spreading the word! Xx
DeleteHi Kat. I won't be the only one to say if anyone can, you can :) All little steps are important so if you've got the info for trade I'm still working in the Natural Store in Falmouth. (There's one in St Austell and Helston). If you were happy I could take a couple of products to show and the little catalogue and do my best. Beautiful products, locally made, it's just what people want. If you want to do that and you're around over the weekend I can come to Heartlands and collect? Send me a message on fb. Lots of love x
ReplyDeleteThank you!! That would be fantastic! I will e-mail you the catalogue and if you'd like to pop up and pick up a few sample soaps that would be amazing! Thank you so much! :) Its been amazing how much support everyone has shown! Thanks! xx
DeleteOK. Can't remember if you have my email it's ns@natstubbs.plus.com
DeleteCan come in tomorrow - Sat?
It's good to support each other and you have a such a positive message. Drawing on all different skills and relationships,anything can be achieved, right? xxx
Hi Kat Freya says you sent the email but I can't see it anywhere. When you get a minute can you try again to ns@natstubbs.plus.com Thanks x
DeleteI would first look at reducing any costs and take payment breaks where possible.
ReplyDeleteNext look at what price you can offer your products wholesale & how many you can get made in the time period you have. Total up the figure.
Next look at how many classes you can offer and how much you would make based on a typical attendance rate.
Finally work out how much else you need to make to make the necessary £4k. Now you know exactly what you need to do to get it done.
x wholesale orders
y people attending workshops
z product sales
Publicly focus on filling the classes first and selling products second. I assume these have a higher product margin for you plus events need early advertising plus you can make people aware they can purchase too. Any classes held within the 4 week time frame are opportunities to upsell too.
Privately get letters out and phone calls to people who could retail the products for you. Selling bulk orders at a wholesale means you won't make so much from the products but you won't have to do all that marketing to get individual sales. Big bonus because time isn't on your side.
Can you sell gift cards to other companies? Sell £5 gift cards in packs of 10 for £25-35 the company selling them on makes money, you get an instant cash injection and new customers.
Do you have a mailing list? Your past customers are often far easier to sell to than new customers. If you aren't keeping in touch with them then you are missing a big opportunity.
I hope this helps you get clear on your next steps. Let me know how your get on with these, I have loads more. lianne@salesinflux.com
Hi!!
DeleteThank you for the amazing advice! :) You probably noticed that alot of it i've already done or am in the process of doing... but there are some fab ideas in there! :D
I love the Gift Card Idea! Will Certainly be trying that one. I think the main issue is that there is such a low starting point so will probably cost to get gift cards printed out! :)
Thank You so much for your support.
x