Tuesday, November 5, 2013

indieBusiness: Let's talk MONEY.

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Welcome to the second edition of indieBusiness Bites. 

Today - 

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If ever there was a topic I am completely useless at - this is it.

Oh don't get me wrong - I am very EXCELLENT at spending it - but launching into a foundling creative career - I am not very good at checking whether or not I am actually "making" it. For those of you who have been reading indieBerries for a little while will know that I am attending my very first market at the end of November - woot! (I am both excited and petrified - thanks for asking). Going into my first market with books, cards, print outs, postcards etc - obviously requires a fair bit of capital to start off. Capital being money - which I don't have.
To overcome this problem - I have taken out a small loan: from my father.

Yep, you guys, I literally Dragons'-Denned them one night in the lounge while I was home.
You see, the thing is - I have a ton of "creative ideas" and "doodles ready for books/postcards/posters/printing/etc!" And I am all ready to get my pretty little things out there for the WORLD TO BUY! But it turns out - I have overlooked a few vital points.

Actual "Dragons' Den" Conversation that I sprung on my parents one night:

Self: Oh heeeeey, mom and dad!
Father: Hello.
Self: How would you like to make a solid investment?!
Father: What do you mean?
Self: I mean... inVESTment.
Father: Yessss.....
Self: inVESTMENT! Hey!! For the FUTURE generations of our kind! I need your money.
Father: Oh. I see.
Self: No! Don't get up yet! I haven't finished my pitch!
Father: Well could you "pitch" a little faster - there is a show coming on TV.
Self: Well, I need some money to start up my little indieBusiness! Printing an' all.
Father: Ok. What is my return?
Self: What?
Father: My Return? What is my Return investment?
Self: I'm sorry, what?
Father: My Return - what am I getting back from my investment?
Self: Um. Could you repeat the question?
Father: What money am I getting back from this endeavor?
Self: Sorry - I actually can't hear you - what did you say?
Mother: Could you just give her the money - the show is coming on.
Father: Ok, So let's say hypothetically we gave you this money...
Self: ..YES!!
Father: Hypothetically... if we gave you this money - and you had some cards printed... how much would each card cost you? Like a basic cost price per item?

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Father: okaaay. Well, then what are you expecting to sell each card for?

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Father: Well - how much do other cards sell for in the shops in London?

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Father: Then how much are you hoping to make off each card?

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Father: So if you're planning on selling online - what will the shipping cost you?

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Actual conversation, it happened.

(but don't worry - I still Dragons-Denned the shit out of them)

Introducing - The indieBerries' Spreadsheets for Creatives!

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Basically: I have a few different streams (read: trickles) of income - some through custom design work such as posters, wedding stationery, cartoons and logo designs, some through the sponsorship on indieBerries (SPONSOR ME, I NEED TO PAY BACK MY FATHER), and hopefully some more through the markets (starting end Nov) and online store that I will be launching soon! Having different income sources (South African Bank Accounts || UK Bank Accounts || PayPal || Cash etc) It makes it quite difficult to actually monitor your net profit at the end of every month.

So I have created a VERY BASIC spreadsheet where you can just fill in your overall income/business-expenditure for each month. (Obviously you wouldn't take it to a market and itemise every single card you sell - but for the end of the day you can fill in what you've made and any costs that went into the market set up.)

At the end of the month - you will have a very basic "total Income" and "total Expenditure". If the total on the Expenditure Page is greater than the other -

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And if it's greater on the "Money Coming In" versus "Money going out" page - then

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It really is so basic that I am assuming that Grade 3 teachers will print it out to use to teach their students basic Economics. I even had some severe internal monologues about the whole thing - when I was deciding whether to put on

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or not.

Internal Monologue:
I should probably not put "B*tches" that on there - what if school teachers want to use this to teach their kids basic accounting? Well, in that case - I should probably also remove the champagne bottle? Can't have underage drinking now can we? But champagne is celebratory. Yeah. You're right - Imma leave it on. Besides - any 8 year old who has made enough money to warrant a two page spreadsheet deserves ALL the champagne.

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Anyway my husband (or actually any other normal person) would probably suggest making a way more detailed spreadsheet analysis and using a system (such as excel) which can actually calculate the end totals for you. For now - I prefer my simple way. Basic Money-In, Basic Money Out. With paper. And Pens. And a calculator. And nothing complicated, at all.

Just call me ol' fashioned.

This is what is working for me now.

Download it here if you'd like and let me know if it works for you!


Keri Bainborough said...

Hahahahaah! "Dragon-denned" them! Love this Che. Also, that cartoon looks totally like your dad :)

Samantha said...

Our fathers. Cut from the same cloth. What happened to doing something
out of the goodness of your pure heart, especially for your loving, super
talented daughter? Yup!

for the spreadsheets! Will definitely be using them for my little catering business I'm starting! x

Che Kershaw said...

EXACTLY. the goodness of your pure heart.
We should organise a father/daughter conference. :)

Che Kershaw said...

i know! it's uncanny really.

Wonderland Clothing said...

This is actually awesome, and coming from someone who also runs their own small business it's hell knowing what the hell I am doing other than knowing what I am good at doing. Money being NOT it!

Sarah Botha said...

Love this! I think I'll be using the spreadsheets as money management is not my thing. I subscribe to the Carrie Bradshaw money school of thought ie 'I like my money where i can see it...hanging in my closet!'

cleverbirdbanter.com said...

Printed and in use for Baby Bird Basics ;) Merci x

Gemma Roberts said...

Glad I'm not the only one without this seemingly hidden wealth of knowledge regarding finance!! How do these people just know, did we skip that class? Fantastic idea, will be using this as a valuable tool for generally living on a budget :) Thanks x


Che Kershaw said...

yay!!! so excited for your new venture!

Che Kershaw said...

hahahaha HILAR. i LOVE that philosophy! although according to that I am VERY poor! no money AND no clothes!!

Che Kershaw said...

haha yes I think we must have been out partying when the "finance section" was covered in life-school! haha Happy accounting! :)

Emma said...

I'm definitely a 'I need to do this straight away!' kind of person who doesn't really think through the practicalities like this haha.

That said, those spread sheets are amazing! Might just download for my personal finances, as I never dare look at my online banking :)

Mo van Wyk said...

Thank you for this ;)

Che Kershaw said...

You're welcome!

Che Kershaw said...

hahaha i know EXACTLY what you mean! Hope you find some use for the spreadsheets! I've found them handy - even if I can admit that an excel document would be WAY more efficient! haha

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