Over the weekend I accomplished zip, zero, zilch, zot on the
www.zone-10.com website. Nadda.
However, MUCH progress has been made on the business side of the
equation. We have the new business plan put together and agreed on by
the family. The girls are taking this on as a form of employment and
will actually be responsible for much of the day to day operation. In
otherwords, it's now a family business.
On a side and completely related note, DD#1 got a 4.0 GPA last
semister and DD#2 would have except for just ONE class, but
participates in various invitational band activities. Seeing how much
work they put into their studies, I'm a little leary of them having to
work too many hours at part-time jobs. Not right now. Also, they will
soon be able to take college classes while still in high school, so
they are rather motivated in that regard. Anyhoo, so one of the
primary goals for this family business is to teach them business
skills, work ethic (like they really need more of that?) and provide
them with income potential and an entrepreneurial foundation.
Key words: "Income potential". The more you put in, the more you get
out. The question of "how much will we make" came up, of course. I
answered that question by identifying material costs and markup, base
business expenses and marketing. We only pay ourselves AFTER
everything else is paid.
"Oh." :(
Well, welcome to the land of business ownership.
After running a few numbers, though, the excitement started to build
and you could see the wheels turning.
"What if we did ________? Would that bring in business?"
They started thinking out of the box and were giving me some really
wickedly cool ideas. Social media is alive and well.
The big limitation we do see is the big factor of limited time. There
is enough business out there to be had, but only so much time to go
around. Also, DD#2 is really wanting to learn more about video
production. As an 8th grader, she has produced a couple of things
which are of small-market television or mid-level corporate
communications quality. Fortunately, my new computer is built for
video production so who knows if she might add that to the product
mix. Speaking of mix, we also have a decent audio production suite.
If successful, I may have lost my darkroom for my own projects. My
kids will probably bill me.
What a wonderful problem to have, eh?
AG
(DD#1 = Dear Daughter the Elder)
(DD#2 = Dear Daughter the Younger)
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