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Blog entry by sawblade1 posted 08-09-2010 04:29 AM 881 reads 0 times favorited 5 comments Add to Favorites Watch

This week was a major learning curve in getting started. Getting financing even government backed loans are tougher than trying to pull apart a well glued tenon joint, I was at the point that I was actually tired of my business.
After talking it over with one of my friends who helped run her husbands construction business she offered kinda one of the most powerful pieces of advice:- Go slow and build up your business and you won’t have to borrow !
Well I got to thinking 2 years of rewriting a business plan to suit some bank and loan proposals etc. Where could I been and why am I not there?
The answer is simple mismanagement of my time instead of building model furniture to demonstrate my skills and marketing my business I was writing proposals only to get turned down!!! Instead of calling to get sample doors and re-modelers who do kitchens I was calling to get financing. Instead of trying to build my business and cabinets I was trying to accomplish the wrong task!!! Things are changing rapidly as I am going back to my original plan and sticking to it. Sometimes it’s the little things that eat time up and profitability. I am not talking about house chores or honey do’s but by doing things that are not what we are supposed to be doing,and neglecting what really needs to be done. Shifting my focus may behold new avenues that I do not know about yet.
Until next week
Take care

-- Proverbs Ch:3 vs 5,6,7 Trust in the lord with all thine heart and lean not unto your own understanding but in all your ways aknowledge him and he shall direct your path

5 comments so far

View Beginningwoodworker's profile


13347 posts in 3095 days

#1 posted 08-09-2010 05:05 AM

Its a tough time to start a business with credit so tight.

View RonPeters's profile


713 posts in 2302 days

#2 posted 08-09-2010 06:37 AM

Going into debt should be avoided…at all costs, especially now. Listen to and take the advice of your friend.

You remember what happened to GM after the bailout?

Ford ‘borrowed’ the money. Why? Probably because Henry taught his progeny well:

”It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
Henry Ford

If you want to know more, PM me.

-- “Once more unto the breach, dear friends...” Henry V - Act III, Scene I

View TopamaxSurvivor's profile


17577 posts in 3098 days

#3 posted 08-09-2010 07:06 AM

That is what I always did. No money in the bank, I did it all myself. Suppliers always paid by the 10th under discount terms ;-)) I remember one wholesale house that sent their statement from the midwest. It always came on the 8th, 9th or 10th. My wife said they are just trying to screw us out of our discount:-)) :-)) If they didn’t want us to take it, they didn’t have to offer it :-))

-- Bob in WW ~ "some old things are lovely, warm still with life ... of the forgotten men who made them." - D.H. Lawrence

View rando1's profile


163 posts in 2346 days

#4 posted 08-09-2010 01:01 PM

You know, I have really been trying to get our shop up and running at a more consitant rate, but it takes time.
We have had to focus on small steps at a time.
Projects seem to come in phases. The shop can be running for a month or two and then off site with other projects.
The goal is to keep it at a more steady rate, but we refuse to go into debt. It has been difficult because I love working on furniture, cabinets and built-ins, but as of over three years into our business we have no debt.

The best networking tool for us has been working as a sub to contractors and repeat/ referral customers. We have also found that our photo portfolio has been a great tool in consulting with customers.

Keep in the trenches and working hard, and projects WILL come to you. Stay focused.

-- Randon Riegsecker,

View Div's profile


1653 posts in 2362 days

#5 posted 08-09-2010 09:26 PM

Good advice there, RonPeters. Excellent quote too.
Yes, avoid debt like the plague!! Topamaxsurvivor’s signature sums it up perfectly and truly.

Yes,yes, take your friend’s advice! I’ve done the same, never had any debt, never will. Never had a new car, so what! I sleep very well!

-- Div @ the bottom end of Africa. "A woodworker's sharpest tool should be his mind."

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