Sorry guys, But I have to post my question differently. I wanted to know if YOUR business was doing well this year. I didn't wanted to start a fight on your political views. So here's my simplyfied question (without the word "economy")
HOW IS YOUR BUSINESS THIS YEAR?
Posted by PKing (Member # 337) on :
My business is GREAT! Hired an Apprentice and CPA Still don't advertise,so word of mouth is working for me. Must be my life style of NOT spending more than I make Hope this helps
Posted by Chris Elliott (Member # 1262) on :
My business is GREAT too!! Tons of new & old opportunities which gives me a primary problem of retaining or attaining focus. I finally decided what my occupation actually is, so that helps! (I keep forgetting that I'm semi-retired)
p.s. Sorry to get off the beam on your other post. Sometimes Canadians seem a little more civilized the we appear in the US but on the other hand, they tend to vote with bullets in Mexico so I guess it could be worse. Posted by Bob Burns (Member # 268) on :
BEST YEAR I EVER HAD!
Posted by Randy Campbell (Member # 2675) on :
I have had a very bad year.
Posted by Robert Larkham (Member # 2913) on :
Overall, it has been my best year yet. But right now I'm very slow. Problem was, when I was busy I spent money like a drunken sailor. Now I'm paying the price....I'M BROKE!
Posted by John Thompson (Member # 2750) on :
It's either so slow that it makes m want to puke or so busy that I can't handle it. Done good so far but Sept. was pretty bad. I didn't worry though because every business owner I know was griping too. Lots of stuff has been closing up around here. Oct. has been really good, starting to get into that super busy cycle feel again.
Posted by cheryl nordby (Member # 1100) on :
The only thing real different about this year was the summer was slower than usual. I am busy busy busy right now. But this business has always been up and down ever since I first started in '76. Never very consistent. I am either overly busy...or sitting here some days with nothing going on. But the other signmakers I am close to are in the same boat. So...get it while it's hot!
Posted by Amy Brown (Member # 1963) on :
I'm ahead of last year but hit my dead time right now.
Posted by Jeffrey Vrstal (Member # 2271) on :
It's been a good year. Hired a part timer. Things were going like a steam roller until the end of September, when I found myself caught up! I still had a lot of piddly stuff to keep me busy, but I had a couple of weeks where I wondered what was going on... nothing new was coming in. Then by October 10, things took another turn and I am behind again. I like it this way, but you always have that feeling like "geez, what if the phone never rings again?"
I'm positive here.
Posted by Jeff Bailey (Member # 1975) on :
Best year yet....
Posted by John Arnott (Member # 215) on :
This has been a very slow year. About like the 91 recession. My regulars are the only jobs that keep me busy. Not many new clients out there!
Posted by bronzeo (Member # 1408) on :
Business has been slow here, but getting better this fall.... To think that people would invade a post with cheap shots to support their politial views. Perhaps they were just illusions.
[ October 27, 2002, 07:56 AM: Message edited by: bronzeo ]
Posted by Janette Balogh (Member # 192) on :
Work is okay here. Staying steady.
Today I’m playing catch-up from my vacation return. This year as a whole financially has been slightly better than past years.
Ongoing home improvements, vacations, and other more pesky expenses continue to set me back in my bank account, but it's all a part of the big picture. I'm grateful that it's remained managable, and that I've still been able to pay myself first this past year ... in various ways.
An upbeat outlook, hard work and a sense of humour keeps the momentum going around here. hahaahaaa!
Life (with a capital "L") is good.
Janette
Posted by Bruce Deveau (Member # 1600) on :
A little bit better than last year.
Bruce
Posted by Dave Grundy (Member # 103) on :
Pierre..After answering your original post/question I decided to do a quick count.
This year, so far, is 40% higher than last year was in total. I know that December is traditionally slow so I am thinking that I might make it to a 50% increase over last year.
I pray that this trend continues!!!!
I know that my gains are probably not a result of my expertise..they are more a reflection of my clients' expertise, and therefore, their spending.
Pierre..from seeing pics of your work in SignCraft I am sure that your current slowdown is not anything to do with YOU..it is just a local slowdown in your area and in the type of clients you usually get business from. Things WILL turn around!!! Posted by Doug Allan (Member # 2247) on :
Staying pretty busy here all year so far!
[ October 22, 2002, 12:44 AM: Message edited by: Doug Allan ]
Posted by Source Signs (Member # 1164) on :
I've been in business now 10 years. Each year has gotten better and better. This year reached a high I never thought I would...two months in a row. Now things have slowed to a more enjoyable pace. The one thing I have learned....when it's quiet....be productive. Do all those odd things around the shop that you don't have time for when you are busy (call in receivables, re-do your window lettering, make yourself a new sandwich board. Murphy's law dictates that as soon as you start something for yourself, the phone will ring!!!) One other trick is to put on a shirt that is plastered with my company name and phone number and go somewhere popular for coffee. (Tip: If your company name is on the back of your shirt, don't sit against a wall....Ha! Ha!) Be visible...someone will always ask for a business card or a quote. Things will improve. Sue
Posted by Jeff Bailey (Member # 1975) on :
Susan, that is a great tip. I often wonder if the people reporting slow business promote. It's also nice to read that most are reporting great years.
Posted by Cam Bortz (Member # 55) on :
From one of those who got long-winded about economics... this has been a very good year. I'm making more money with less work, which is one of my goals, the other being to learn and use new techniques. And though it is traditionally slow hear late in the year, a few decent projects are in the works.
Posted by David Wright (Member # 111) on :
Jeff, why do you say most are reporting good years. This thread has only a few responses out of thousands registered. Most people who aren't doing well will not go out and tell others how bad they are doing. Some others who claim to do well are usually glad to be busy rather than worry if they are profitable.
I usually take it with a grain of salt the comments of fellow business people as to the state of their business. A major local business that I am doing a job for now claims to have had the best year yet. I just received a letter from bancrupty court on him.
Posted by Janette Balogh (Member # 192) on :
David, you got that right!
Being profitable is the key!
I've always said, it's not what you make, it's what you keep. Most see what's coming in clearer than what's going out. hahahaaa It's all relative.
Perceptions are often misleading. You'll see folks that appear to be doing well, but who have debts veering out of control. Then there are those who appear less lavish with mounds accummulating in the bank.
Ever read the book "The Millionaire Next Door"? A pretty good read.
Posted by cheryl nordby (Member # 1100) on :
LOL David....you crack me up. You and your brutally honest questions! I too, take what lots of Letterheads say with a grain of salt. It is just too easy to live in a fantasy land when you are on the internet sometimes!
Posted by Jeff Bailey (Member # 1975) on :
Wow, I make a posative comment and I get nailed.. haha.. I was making a really basic statement based on how the majority of people had replied. If they are in fact doing well, I'd say it is because some of their customers decided they needed their services, and weren't afraid to spend.
Posted by Bob Burns (Member # 268) on :
You have to take into account your market situation. To the customer, things are ALWAYS BAD for whatever reason they choose....the economy....tax time.....buying school clothes for their kids, etc. There's ALWAYS a reason for a perspective customer NOT to buy a sign. But when they DO want to buy a sign, do they have 25 shops to choose from, or just 2 or 3. And, like in my case, I've been in the same location for 25 years.....THAT helps a lot. Your prices are ALWAYS "too high" no matter what your situation, BUT if you're in competition with a LOT of shops....price DOES make a difference, remembering that the customer knows little about signs, and a LOT about "cheap"! We all like to believe that our quality of output, knowledge, and our winning personalities have EVERYTHING to do with the success of a sale, and in some cases it's true, but in many cases, it's all "the market"!
[ October 22, 2002, 11:09 AM: Message edited by: Bob Burns ]
Posted by Pam Eddy (Member # 1858) on :
Although we have had 9-11, a recession, Inron and so on this past year, I am still ahead, so far, this year from previous years. I have worked harder though, because many people are watching their budgets this year. I have had to spend more time with the new customers, and even some old ones are being pressured by their bosses to get quotes right now. I have had to sit down and figure prices almost to the penny for many more customers this year.
Also, I have had many more people ask this year if I accept credit cards than ever before (I don't). They say they want to use credit cards because of the "perks" the credit card companies are giving them.I'm not so sure that's true. Many people have been over-extended and this blip in the economy has hit them hard. They are using their credit cards more.
Things will get better in time. I listen to my retired signpainter friend who lived through the depression. That's when times were really rough. I understand why the man is so thrifty with materials.
Just my thoughts
Pam, Pam's Signs
Posted by Glenn Thompson (Member # 1851) on :
We're runing about a 35% increase over last year and last year was pretty good. Spend the extra earnings on a new and improved location. Boy is it ever nice to be able to build the shop to fit. We're organized!
Posted by Connot (Member # 76) on :
"Hey I'm doing better than I ever have." That was my initial thought, then I went to my Computer and did a "Quick-Books" comparision year to date, wow, I was up 7%. Yet my profits are down 1,076.8%.
The truth is figures lie and liars figure.
I've paid all my debts off, quarterly tax payments are ahead of schedule, and there is even a little leftover for grins and giggles. So I hope I'm down a 1,000% every year from now on!
DeWayne Connot
Posted by Jeff Bailey (Member # 1975) on :
:-) DeWayne hit something good here. As long as you're not answering to share holders, and are not trying to make any major purchases, or expansion, hav ing a good strong year and NOT making a profit on paper can be a very good thing. :-)
This is one of the great things about a small business.
Posted by Janette Balogh (Member # 192) on :
Hey Bob,
I am under the illusion that my personality, knowledge and output have everything to do with the success of my business.
Fortunately, I've been putting my belief in that to work creating a market for me.
What luck! Posted by Bob Burns (Member # 268) on :
Illusions can be comforting!
Posted by old paint (Member # 549) on :
isnt this all nothing more then an I L L U S I O N ? ? ? ? ? ? ? ? ? ? ?
[ October 23, 2002, 02:31 AM: Message edited by: old paint ]
Posted by cheryl nordby (Member # 1100) on :
LOL! This site is so fun to read in the morning with my coffee. Is it fishing season still? The bait is out I see! I think I will just troll along for a bit as I am Laughing my buns off.
Posted by Bob Burns (Member # 268) on :
WEBSTER'S: ILLUSION-- 1. A FALSE IDEAOR CONCEPTION 2. AN UNREAL OR MISLEADING APPEARANCE OR IMAGE
Posted by cheryl nordby (Member # 1100) on :
I am thinking I will keep trolling and bite my tongue.
[ October 23, 2002, 11:58 AM: Message edited by: cheryl nordby ]
Posted by Suelynn Sedor (Member # 442) on :
Sorry Pierre,
Looks like this thread is trying to take a nose-dive again!
Suelynn
Posted by Myra Grozinger (Member # 327) on :
When I read the reworded question here I started to ponder it. It challenged me to not only think about what was asked, but about up or down years, or good and bad months in general.
Proportionately speaking my income rose as I got more efficient, more profit conscious, more computerized and more competent. It increased because the customer base in general grew from year to year, and I have a good number of loyal customers supporting my efforts. But it did not increase dramatically ever, because I chose to work by myself. So my resources of time in which to produce have been limited.
Never though, have I seen a year of cautionary spending, as I do this year. The immediately paralyzing effect of 9-11 in my surroundings, once overcome, simply morphed into a steady flow of less work. It has become difficult to convince those in need of signs to spend money beyond the bare necessity. I have never sold more coroplast than this year. I used to succeed in talking people out of it. I see the same in other businesses; I see it in those for whom I am a subcontractor, that work is down by half. My accountant says her business is down. My mechanic whose lot was overflowing with vehicles to be worked on, now cleans around a half empty lot and works 4 days a week, if that. The merchandise in the stores is deeply discounted and the come-ons are astounding . The flyers from sign supply companies are clogging my fax machine, and their gratitude for my business is noticeable. Fellow sign makers I know, and I know a good number of them locally, are not working like they are used to, and competition in the industry is stiffer.
So, there must be an explanation for so many of the posts on the Bull Board being positive and some are reporting exploding growth. Though on closer examination even a good number of those say it is “slow right now- temporarily”. It’s possible, like David said, that only those for whom it is an up year are writing; that those who are just coasting like I am don’t feel like talking about it. It’s also possible that there are a lot of heads in the sand because it is more comfortable to deny the difficult and live with an illusion. When I read the first post on this subject, which included the political implications of the economy, my thought was that the time must have come for the heads to raise up from that sand. Admitting that maybe things will not miraculously get better and that we do have to think about it.
500 billion dollars have so far evaporated in the collective retirement funds in the United States. My money is only a speck of sand in that. Yet I know I face having to work longer years because of the setback. So it’s with no great surprise I end this post with a resounding vote that for me, for those I interact with and those I observe, it is way more difficult this year to make a living.
Posted by David Wright (Member # 111) on :
Myra describes the situation very well. Most of us are very small operations and a few good contracts here or there can keep us afloat or be a great help to our bank account. That can also give one a false impression on the business climate. That being said, it also doesn't take much to get most of us back up and running again. Stay lean.
I have done all my accounting for many years with Quickbooks and all one has to do is generate a report for previous years comparison to see some hard numbers. No feelings allowed as input.
As Myra has said the sales are harder to make and the customers are more cautious. I have maintained fairly well only because of harder work and adapting my sales and business techniques. My shop load is never heavy ( though usually profitable) because I am higher in price than my competitors.
Don't go by what others are saying as to how well things are going. Hell, half the time when people ask me "how's business?" I give them the stock reply "pretty good!". Nobody really wants to know and if you said things are not too good, they look at you like a terminal cancer patient.
All that said, I have to say business is pretty good right now. Going to send out some more brochures and bid on a few jobs that I will get done by a sub-contractor. What ever it takes.
Posted by cheryl nordby (Member # 1100) on :
Wow Myra and David....you write some powerful truth. I have asked many of my customers how business is lately, and almost all of them say it is much slower than usual. Most say it IS harder to make a decent living anymore as there are too many other people getting into their line of work also. (Painters, landscapers and contractors ) The frustration level can get pretty high when so many people are calling for prices and you are the highest, and they think you are trying to rip them off. We are all just trying to make a buck, and it's nice when we can share our honesty with each other. Who knows....maybe we can even help each other.
Posted by Janette Balogh (Member # 192) on :
Great input folks! Indeed we can help each other!
No short answers could really touch on the depth of this stuff. Many factors involved, and we all have our stories and perceptions. As Myra points out, anything is possible. It’s really in each of our best interest to stay clear in our own realities without placing judgment on others.
I generally reply "I'm staying steady" as my standard answer to this (Pierre’s) question. Whether I’m slow or bustling. When I take a good look back thru the years, I realize I've indeed been "staying steady" and so that answer seems concise. That’s entailed it's share of set backs, stand stills, and headway. As long as the momentum keeps steadily moving forward, I’m grateful, and I don't ever get too comfortable in that.
QuickBooks keeps a good account of things. As per Dewayne's example, the numbers don't always co-inside with what you think is going on, and many factors really make up the true picture.
Still, as David says, "what ever it takes". That's been my driving attitude! I have been fortunate, thus far, to be able to make money with my creativity. But if there ever came a time where I'd have to wait tables (never mind corplast signs! hahahaa) to make ends meet, I'd grimmice, bite my pride and just do it. Having come from a family who has endured true hardship, (my parents & brother fled a country during war time) I embrace my blessings. I take strength in the fact that they made it with tougher odds.
Personally, my focus isn't in stressing things beyond my control, but rather survival within the perameters of my control. My stategies have been to lay emphasis in honing my skills, my approach, and my efficiency. Each year the goal is to become more profitable, work smarter, simplify life, get ahead and all the while I keep striving to do it on my terms, and still maintaining quality in my day to day. Each year, (heck, each day), I do what it takes. Some days are better than others.
It's a balancing act, and a chess game, but worrying about the world's economic issues, or blaming the market in my estimation, is not what keeps the gears moving. It’s about making choices and changes to suit your needs in Life.
The input on this bb gives us all a better awareness of our individual experiences. It gives us the chance to lift our heads from the sand and learn from each other. Another blessing.
So, humbly I say, I’m staying steady.
Janette
Posted by cheryl nordby (Member # 1100) on :
Yeah Janette! Nice description of what you are feeling. The sentence I mostly can relate to of yours is:
It’s about making choices and changes to suit your needs in Life.
Boy isn't this the truth? We all have to make adjustments in this crazy place called 'earth'. Major adjustment has been going on in my corner of the world. Kicking out the cheap ass customers, and greatly improving my service to those companies who have been loyal all these years, but mostly doing things that I like to do. I really did not like making birthday banners for 20.00. I like money. And I like to be busy. I get real frustated when I am bored, so I try real hard to 'stay focused on my agenda'.
I do admit at times I trip over your words, and might take them wrong. Thanks for your honest words. Keep smilin'
oops missssssssssspelled agenda
[ October 25, 2002, 03:57 PM: Message edited by: cheryl nordby ]
Posted by Pierre Tardif (Member # 3229) on :
Looks like around 60% of you guys are doing great this year. Not so bad, I've been through my high school with this note!! Hahaha! Thanks for answering.
Chris and Suelynn: Don't be sorry about other's answers, It's a democraty here and everyone has the right to express themselves. By the way everytime I buy grapes or apples, I have to throw some in the garbage.
Myra and Janette: Thanks for the reflections even if I had to read them with my english dictionnary, don't forget that I'm french-canadian and I only bla bla my english.
Have a nice week-end!
Posted by Dave Grundy (Member # 103) on :
Janette...The words that strike me the most are.
quote:Each year the goal is to become more profitable, work smarter, simplify life, get ahead and all the while I keep striving to do it on my terms, and still maintaining quality in my day to day.
Each year I review what I had charged for certain types of sign work. Some are repeat jobs for regular customers. Some are unrelated customers but similar jobs. Each year I increase my pricing, keeping in mind the increase of my materials costs, my cost of living costs, my retirement funding (DON'T WANT TO GO INTO THAT RIGHT NOW!!!!! ) and apply that to my pricing for the new year.
Not only have my gross sales increased over the years but so have my profit margins. The gross sales increase are a result of my regular customers being excellent business people/companies. The profit increase is solely my doing.
I learned many years ago to check invoices for masterial cost increases. When you are running on "credit/an account" with suppliers it is SO EASY to just pay the bill at the end of the month without actually looking at the individual invoices. THEY know that and it is up to us to check their pricing on a regular basis.
Another thing I have found to be a HUGE benefit is using internet banking...NOT for actual transactions neccesarily, but for keeping track of the bank accounts. It is so easy to deposit a cheque for $3896 and say to yourself "I just deposited about $4000" and the next day write out a cheque for $1187 and say I only wrote out a cheque for $1100"...THAT thinking leaves room for a large shortfall of percieved wealth.
Also there is the "tax" thing..depositing the cheque, which includes the "government's" money, and then using "their" money as if it is your own is also a potential future headache. (Don't ask how I learned THAT )
Anyway..enough from me...I am sure that a lot more intelligent and business-wise and world-wise folks can add to this thread!!! Posted by Myra Grozinger (Member # 327) on :
Other than being very interested in the content here are my thoughts about Janette’s post as they (again) reveal her as a human being:
If ever I’m in a dispute with someone Janette would immediately come to mind for an arbiter, and I would sign anything ahead of time that I would accept her decision. Janette: you have head and heart, which translate into the gift of clarity and diplomacy. With little ego involved and a great sense of fairness you seem to see all sides and boil away the unimportant. You seem to have the true humility of the really strong. I volunteer as the leader of your fan club, because when I grow up I want to be just like you.
Posted by Suelynn Sedor (Member # 442) on :
Cheryl,
What a great, honest reply. We've watched you struggle with signshops opening on every corner, and you seem to be handling it very well. I'm really glad that you are focusing on getting rid of those cheap-ass customers (I may need to take lessons from you ) Sounds like you are going through a real transformation right now...changing the way you do business, and building a new shop. How exciting for you, I wish you the best.
Suelynn
Posted by cheryl nordby (Member # 1100) on :
Hi Suelynn. thank you! The 'focus' is on my favorite customers I have had for years. The ones who trust my taste, who don't ask 'how much' and who know I will deliver quickly. I used to get ****ed at the cheap asses. But now the joke is on them. I don't play their game. I think I tried too hard before, to please everybody who called. Now I have made it my choice who I will do signs for. And I choose those who trust me, and those who actually have some bucks to spend! I have raised my prices quite a bit in the past year. (thank you Mark Roberts) I decided this past summer when business was slower than normal, I didn't want to be unhappy doing cheap signs just to be working. There are other jobs that would be much more rewarding. So that is when I changed my way of thinking. Oh I was sweatin' you can be sure! It seemed everyone who called thought my prices were too high. But I am much much happier now and that is where I want to be. The ball is back in my court! Thank you for always noticing the little things. You are very observant.
Posted by Donna in BC (Member # 130) on :
I've personally chosen to work less and can feel it in the ol' bank account, so I am down this year by choice. But when I work more and have more money, I actually feel worse off from a Mom's perspective. So basically, I work less at more profitable jobs so I can pay the bills, and the rest of my time is with my son. I spend less than I earn to stay in the black. I'm budgeting for the first time in my LIFE and it's an experience!
I thank God everyday that I have my regular clientelle to fall back on.
Posted by Dave Grundy (Member # 103) on :
Donna..You hit the nail on the head!
quote:I thank God everyday that I have my regular clientelle to fall back on.
Building a business is about building a relationship with clients.
I also thank God that I have a few clients that keep me as busy as I want to be. (and sometimes more busy than I want to be. )
Posted by Bob Burns (Member # 268) on :
Isn't it weird how when you have a real good month, you end up just as broke as when work is slow! Those 'good' months are the ones where you play catch-up on bills. It would really be a plus if the customer would realize that for a SMALL business, the CASH FLOW is almost more important than the actual cash, if that makes any sense! It goes without saying that paying the bills goes so much easier when the cash flow is working! Posted by Dan Sawatzky (Member # 88) on :
Our business is very much on the upswing again. When we moved back to B.C. and then turned down all work for eight months as we did our own project it set us back business wise for a while.
We tightened our belt, something that took a bit of getting used to after five roaring good years with a large crew.
But now things are back into roaring mode but in a much smaller scale. I'm more selective than ever about what I take on and I have a very small but skillful team to rely on. And as I've said before we are in the process of switching from hands on theme construction to design and consult instead. There is no risk and the profit margin is much better.
I will still take on a few choice hands-on jobs from time to time but they will be much smaller in scale and the deadlines will be of my own making. We will still be mostly our own client for the most part.
It only takes a good client or two to give me a great year as the jobs tend to be large in scale. It looks like we will be busy with a major client for the next 16-18 months as it stands now. The best part is that the job will be in my own home town... something I've dreamed of my whole career!
So combine this with a few small design jobs I've committed to and one or two murals... its gonna be a record breaking next two years. Not in gross income but rather in take home pay.
And that's what counts - right after thoroughly enjoying what you do for a living.
-dan
Posted by Cam Bortz (Member # 55) on :
The fundamental truth about "the economy" is that it is nothing more than an attempt - an not always a successful attempt - to measure human activity with money. All of you have some interesting points of view, some thoughtful, some more emotional, all valuable. But the fact remains, NONE of us are capable of monitoring the health of the economy as a whole - even Greenspan's crystal ball is cloudy. Measuring the net results of the activities of 250 million people, not to mention the globe's 5 or 6 billion, is a staggering task.
All we have to go on is A) Our own perception of how our businesses are doing, and B) Anecdotal evidence - from customers, suppliers, friends, the media, etc. - of how others are doing. Then we have the government's analyses of the health of the economy at any given moment, which is based on tax revenue, the stock market (which is itself only a measure of corporate America, not necessarily the rest of us), and which is ALWAYS clouded by political considerations (surprise!)
Out of 250 million people, it is ALWAYS possible to find individuals or businesses that will tell stories of success or failure, of good times or of bad. There were businesses that thrived during the Great Depression; just as there were those that failed during the recent boom of the Clinton years. Pierre's question, as I recall, was a call for anecdotal evidence - how are each of us doing, in our own market, this year. To extrapolate those responses into anything beyond what they are, or to question their validity based on your own or someone else's experience, would be a mistake. To do so in order to find justifications for one's own political opinions, is a mistake compounded by cynicism. Let's leave that to the politicians, and stay down here where it's real.
Posted by David Wright (Member # 111) on :
But Cam, that's why this coming election is so critical, right? Somebody has got to fix the economy and why shouldn't it be those that have never run anything but their mouths.
![[Wink]](wink.gif)
![[Smile]](smile.gif)
(I keep forgetting that I'm semi-retired) ![[Big Grin]](biggrin.gif)
![[Cool]](cool.gif)
![[Eek!]](eek.gif)
) and apply that to my pricing for the new year. ![[Roll Eyes]](rolleyes.gif)
)