As I wait for fabric to be sourced to produce new samples, I’ve found myself building out cost models – again. It made me realise how honest you have to be with yourself to build these models. Models that account for all of your costs pre-sale.
It’s SO easy to not account for everything. When you account for all the costs, sometimes the numbers don’t look as pretty. Everyone likes a spreadsheet or set of numbers that leaves you feeling warm and fuzzy. As I built the tables, every once in a while I remember another cost. Now we’ve officially Brexit-ed, no matter where you’re importing from, you’ll need to add Customs (well I’m doing this as a precaution for the time being). Then there’s VAT which you pay on the total value of what you’re bringing in + shipping + insurance!
It’s a sobering exercise. But a necessary one. It actually reminds me of times when I’ve built financial forecasts in my personal life. Again, sometimes you don’t want to come face to face with how much you spend on coffee shop coffees…or takeaways! Or other random purchases. However, the sooner you look at the numbers in the cold light of day, the sooner you can accept / adjust or move on.
These exercises are beyond valuable. They make me more informed when speaking to suppliers and give me cost parameters within which I can explore certain ideas.
In my opinion these spreadsheets are a must when it comes to planning costs for a new business.
We’re on the move friends! I could barely contain my excitement this week when our new tech packs arrived. My first tech packs were completed in March last year – I actually can’t believe it – over a year ago! I produced them in a bit of a mish-mashed way: I hired a designer to …
How do you do it all? This question is asked all the time when ‘successful people’ – actually, let’s be specific – ‘successful women’ are being interviewed. I’m sure it’s annoying to be asked this (especially as a woman), but I get why it’s asked. Everyone wants to know…the secret. Let’s face it, everyone is …
Build the perfect product. When starting a business, it’s easy to be obsessed about the product and leave marketing as an afterthought. I guess it depends on your motive for starting in the first place. If it’s to bring to life this incredible idea, solution or creation, it’s easy to want to focus on that. …
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All The Costs
As I wait for fabric to be sourced to produce new samples, I’ve found myself building out cost models – again. It made me realise how honest you have to be with yourself to build these models. Models that account for all of your costs pre-sale.
It’s SO easy to not account for everything. When you account for all the costs, sometimes the numbers don’t look as pretty. Everyone likes a spreadsheet or set of numbers that leaves you feeling warm and fuzzy. As I built the tables, every once in a while I remember another cost. Now we’ve officially Brexit-ed, no matter where you’re importing from, you’ll need to add Customs (well I’m doing this as a precaution for the time being). Then there’s VAT which you pay on the total value of what you’re bringing in + shipping + insurance!
It’s a sobering exercise. But a necessary one. It actually reminds me of times when I’ve built financial forecasts in my personal life. Again, sometimes you don’t want to come face to face with how much you spend on coffee shop coffees…or takeaways! Or other random purchases. However, the sooner you look at the numbers in the cold light of day, the sooner you can accept / adjust or move on.
These exercises are beyond valuable. They make me more informed when speaking to suppliers and give me cost parameters within which I can explore certain ideas.
In my opinion these spreadsheets are a must when it comes to planning costs for a new business.
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