Awards & Engraving

January '19

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32 • A&E JANUARY 2019 and helps keep you on track. The reason to track our time in a budget (as well as the financial budget we will talk about in a moment) is not to beat ourselves up over how little time or money we have. It is about overcoming the unconscious mind that leads us to watch the cat videos, or has us buy that shiny new toy even though it will not help you achieve your goals. These budgets in our planning give us a mechanism to keep us on track in a concise way. So, put that time budget together and then figure out how you are going to most wisely use the time you have for each task at hand or figure out what help you need to achieve your goals. The same goes for the financial budgets. Should you add that monthly charge for that fun new app that you really don't need? Or, should you reinvest those profits into more influencer marketing or Facebook ads? This is a great time to really put your cards out on the table and figure some key things out about your business. What will it take in additional revenue to hire that needed employee, or how much more do you need to spend on marketing to get the number of new customers in that you want? Then think about your inventory of goods/supplies. How much inventory do you need to have on hand to appropriately service the number of customers you have and the expected growth? You want to have the right amount to fill all the orders, but not too much so you are saddled with prod- ucts you can't sell. For example, if you know anyone that needs an iPhone 4 sublimation-ready case, I have a shelf full of them. I didn't plan accordingly and ended up with too much product I could not sell. On the other side, though, if you are selling holiday orna- ments, you don't want to run out at the end of November and hope a supplier has them in stock. There is a good chance you are going to have to search far and wide and even possibly deal with an increased cost due to supply and demand. These are important decisions that need to be planned out. By using a budget as a tool, it helps make the right decisions. KEY TOOLS By using those two key tools, you can successfully plan for a 2019 fiscal year that meets or exceeds your expectations. By planning or what some people call "working on your business, not in your business," you give yourself the best chance for success. Yes, having passion, a drive to never give up, plus being stronger than your excuses can go far. But add a good plan to those things and zoom ahead as it gives you the guide rails to not have to suffer through so many pitfalls. While having the drive to get back up after being knocked down is great, why not plan ahead and avoid those holes altogether. Then, you can use that energy to keep moving forward instead of digging out of a blunder. Sales & Marketing A&E

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