Charts and Graphs- Business Projections for Fiscal Year ’10-’11

Crunch, crunch, crunch...

I spent all of last week digging through my finances.   This was a project I meant to tackle around January 1st, but never got around to.  With tax time coming to a close, I figured it was time to do some financial analysis.  Instead of feeling boggled and dejected as I had anticipated, analyzing the last seven months (yes!  I have really been in business for seven months!) and creating a plan for the next year was absolutely thrilling.  I created a budget that included all the goals I have for the upcoming fiscal year for my business and realized that they are actually achievable!  I got so excited that I printed out my shiny new Profit and Loss report and taped it above my desk as a road map for the upcoming year.  Here are the highlights of my business goals:

1. To increase sales by 10% each month

2. To hire a marketing consultant, whether that be a SEO/Online marketing strategist or traditional marketing consultant

3. As of September 2010, I will rent a studio in an artist building

4. As of January 2011, I will hire a part-time employee

5. In Feburary 2011, I will participate in the Buyer’s Market of American Craft– a HUGE wholesale show held in Philadelphia (of course, contingent upon my acceptance)

6. I will participate in ongoing professional development- taking classes in both business topics and metalsmithing techniques

It is important to note that a month ago, I had no idea how to do this type of analysis or budgeting.  Then I took a four-week “Basic Bookkeeping” course at the San Francisco Small Business Development Center.  The SBA, SBDC, and SCORE are all incredible resources that I plan to take advantage of in the upcoming year, and I would recommend them to any other artist out there who (like me) has absolutely no business training.  I’m also excited to participate in the upcoming SF Small Business Week– a week of networking, workshops, seminars, and a general celebration of entrepreneurs!

Who knew a little financial analysis could be so uplifting?