Business Cents: 2018 Q1 Report
I remember having a conversation with someone earlier this year who thought we had turned down a job because we were rolling in the dough. In my head I was thinking: HA HA HA. I must be the worst business person alive.
Thing is, earlier this year, we made the conscious decision to walk away from projects that weren't going to add value to our portfolio. We also made the decision to move away from clients whose working style and campaign objectives differed from ours — a decision we made because the content market here is way competitive, and short-term growth strategies have never been our jam. As Seth Godin says: FIND YOUR TRIBE. It took us five years and many near burnout sessions to realise we need to be firm on the people we work with to be able to play the long game.
Of course, saying no to a bunch of people and projects = lost income and a drop in profit. We knew going into 2018 that our growth this year wouldn't be measured in dollars and cents, but clearly we still have to be able to pay the bills.
Business owners are generally iffy about sharing numbers, but we think it's worthwhile publishing these because dude, we're just trying to make a living here. We just want to do work we believe in and get paid for it. There's no shame in that! So blame this on my worst-business-person-alive mindset, but here we go:
Q1 Business Report
I was actually pretty happy when I first crunched the income numbers. That happiness quickly gave way to mild panic when I saw our expenses, because I totally forgot that the start of the year tends to be really expense-heavy for us. We're paying for software and service subscriptions, accounting help, freelance hands.
The good news is net net, we're covering our day-to-day expenses and because of that I'm not terribly worried (even though maybe I should be?!). If this goes according to plan, we'll be able to start 2019 with a bang and a portfolio we'll be showing off to everyone and their moms! But if not, then we just head back to square 1. It's not like we haven't been there before.