3 Tips For Successful Trunk Shows

There are 3 things you need to know about trunk shows so you can make more money. Ready to learn? First, here’s a quick overview of what a trunk show is exactly.

A typical trunk show is when the designer or vendor brings their line to a boutique for a special in-shop showing (items used to be carried in a trunk, thus the name).  Generally, but not always, accessories vendors bring stock pieces they can sell during the event while clothing vendors bring samples, take orders, and ship the items later (usually 4 – 8 weeks out).  A show can be from 2 hours long to all afternoon, depending on the boutique, the designer, their wants and needs, and their relationship.  My suggestion for designers starting with a new store is 2 – 3 hours.  You can always stay if things are rockin’ but if it’s slow and you committed to a full day, trust me, that is one loooooooong  day.
 
The shop will pay you the wholesale price for each piece they sell.  It is the shop owner’s decision what retail price the consumer is charged.

And now for the tips…

Tip #1:  You and the Retailer should work as partners.

You and the store are in this together and you want to make it win-win situation.  Try to avoid an “us against them” attitude. Do everything you can to insure the shop has a good experience with you.  A few more points:

Designers win: 

• Your line is featured in front of a whole new clientele (that you didn’t have to find on your own).
• You get a chance to interact with the end-user of your product; this gives you an opportunity to see your things on many different people and hear their feedback (so valuable!)  It makes you a better designer, trust me.
• It gives you a chance to actively SELL your line and explain why and how you designed it.  This can be quite a rush for designers and you get to see what customers really like about your product – it feeds the ego.
• You get instant credibility by being associated with a good store.  When buyers and customers see you sell at such-and such, it makes you more interesting to them.

Stores win:

• Trunk shows are a low risk way to test your product.  Stores don’t pay you for merchandise unless it is a guaranteed sale and they do not tie up their dollars with inventory. They love this!
• It gives the shop an automatic, low-cost special event and creates a buzz with their customers.
• Retailers can offer a much bigger selection and more options for their customers than on a regular day.

Tip #2:  Promote the heck out of it.

Act like a true partner and be pro-active about maximizing you sales during the trunk show – and not relying on the store to do it.  The old days of showing up with your line on the appointed day and waiting for customers to walk in the door are OVER.  You must do more, including:

•   Create signage for the shop window advertising the event and be in charge of installation etc.  Show the shop a sample of what you will do before they make their decision and agree to tailor the signage to their particular taste and storefront.
•  Create a nice postcard or marketing piece to be handed out before the event to the store’s customers.
• Create an email invitation to the event that will go to your current contacts and the store’s list.  In addition to this, send 2 reminders before the event.
• Offer an incentive just for the show.  It doesn’t have to be a discount on your line. It could be a gift with purchase, free shipping, a chance to win a seriously good prize (no, a $50 gift card for your line is not that exciting – a $1000 shopping spree gets attention.)
• Do your homework. Take an afternoon (or 2) before the show and hump it to the other businesses around the area.  Say hi, be friendly, hand out your cards/photos/whatever you have, and ask them nicely to send their customers over. Consider giving them a good reason to send people your way – a $10 gift card to Starbucks for every customer they send?  A % off for their customers or themselves?  I know seems like a lot of work, and it IS, but it pays off.

Tip #3: Follow through and deliver what you promised. 

This is not always the fun part.  It’s a blast to take orders…not as much fun to produce and ship them.  This is the stuff that will make or break your business, however.  If you’re reliable and efficient, your business will prosper – and word gets around..

I’ve seen dozens of designers – hundreds, really – lose momentum because they ship late or not at all, forget to contact who they said they would, and just show a general lack of discipline and dedication.  During the trunk show, try to keep in mind a healthy dose of reality and don’t over-commit yourself or promise things you can’t do.

So now it’s your turn, what’s worked for you? Would you leave a comment below and share tip #4? We’d love to hear it!

Contributor Jane Hamill teaches apparel and accessories designers how to start and grow a profitable business – even if they flunked math and hate selling.  She is the creator of online courses such as “How to Sell Your Line to Boutiques and “How to Start a Fashion Business” and she also coaches entrepreneurs one-on-one. Find her at www.fashionbrainacademy.com.

Consumer Confidence Holding Strong

2012 was supposed to be a bad year for stocks and the economy. The majority opinion was that issues in the Euro zone and China would weigh on growth and curb the market. But just like we’ve seen so many times, the moment when everybody finally agrees on something is the exact moment the tide is about to shift.

This time around it was the best first quarter in 14 years for the S&P 500, with stocks cranking out huge gains in just 12 weeks after returning exactly 0% in all of 2011. That went a very long way to support consumer confidence and spending, both hitting multi-year highs along the way.

But the market has cooled since then, pulling back sharply in April on yet another flare up in the Euro zone. So is the recent bout of volatility spooking consumers?

Consumers Still Feeling Good

According to the conference board, not at all, with its April read on consumer confidence coming in ahead of expectations and holding near a 4-year high. Other consumer indices are singing the same song. The Bloomberg Consumer Comfort Index from mid April matched its highest level in four years, while the Thomson Reuters/UMichigan Consumer Index showed only marginal deterioration from last year.

So for the time being, in spite of some short-term weakness in the stock market, the consumer mood appears to be fairly upbeat. That’s great news for the small-business owners of the world and big companies alike, where bellwethers Microsoft Corp (MSFT) and General Electric (GE) both just reported excellent first-quarter results.

Obstacles Ahead

But moving forward, just as we discussed last time, a number of challenges remain. Like housing. The S&P/Cash Schiller Housing Index just showed home prices hitting a new 10-year low. Home prices have a huge impact on consumer spending, so every time another negative headline hits the Street it weighs on sentiment.

Employment trends will also be a factor. One of the big surprises of 2012 has been the strongest jobs growth since the financial implosion of 2008, going a very long way to support consumption. But the April jobs report fell to its slowest growth in 5 months, so if that trend continues to cool into summer, a seasonally weak time for employment anyway, it won’t do much to lift the mood.

Energy costs will also be a hot topic, with gasoline topping $4 a gallon in certain parts of the country. That’s a bad sign heading into summer, a time of peak gasoline consumption as people take to the road for vacations and family parties. And if we see more political volatility in the Middle East, it’s anyone’s guess where prices are headed.

So in  spite of the great start to the year for the economy, jobs and consumer spending, as always, it feels like there are many warnings signals. For the time being, neither the economy nor consumers are showing many signs of weakness. But like we’ve seen so many times over the last few years, that can change quickly, so it always makes to be prepared and stay nimble.

Auth

MONEY MATTERS is a weekly column on the Retail Minded Blog that is contributed by Michael Vodicka, founder of boutique financial consulting firm the Vodicka Group. MONEY MATTERS is Retail Minded’s way of supporting independent store owners with all their financial concerns, real life needs and everyday issues both in and out of their  stores. You can find MONEY MATTERS every Wednesday on RetailMinded.com as well as in each issue of Retail Minded Magazine. 

**Follow Michael on Twitter @mikevodicka

Top Struggles of Indie Store Owners

We all have a “list”. Whether it’s a mental one, on your i-Pad, or scribbled on paper, “lists” are popular among busy folks – and really, anyone. So of course, retailers are not the exception here. In fact, most retailers we speak to have many lists. They have their immediate “to-do-list”, their “wish list” for new products, their “maintence list” for store repairs and many others. One list most don’t actually write out, though, is their “struggle” list. Here at Retail Minded, though, we have been keeping our own list on what we hear to be the top complaints, frustrations and ultimately, struggles, of indie store owners.

In no particular order, here’s what has made our list.

1. Store Overhead. Let’s face it, rent isn’t cheap (for most of us) and inventory costs a lot. But both are necesseities for most retail busineses. This can create pressure for indie retailers since along with these expenses, they have many others. Are best advice? Determine your best Retail Turn rate to support your store space, inventory and ultimately, your bills. Issue 2 of Retail Minded Magazine has a fantastic article on this, and we encourage you to find your own best turn to help you manage your overhead.

2. Personal Expenses. Life isn’t free, plain and simply. Covering the expenses of your store is one thing. But feeding yourself – not to mention a family – and keeping a roof over your head is another. And as far as we are concerned, we want you to have a roof you enjoy! So what’s a retailer to do? For starters, get your store in shape. Don’t skip any steps in helping it succeed in the marketplace. And if possible, factor in a target salary for yourself so that you can budget your personal life accordingly. Then work extra hard to earn it and even earn more! Promise – we know many retailers who do this and do it well.

3. Health Insurance. And time off to actually go to a doctor! Retailers don’t have idealistic hours. You work a lot! But finding a health plan is important – and dare we say vital – in your work / life balance. Many Chambers offer health care as a benefit to their Chamber members. Other associations and organizations also offer this. So if you think you have to be alone in getting health care, you don’t have to be. While that is one option – you have many to consider.

4. Work/Life Balance. The idea of spending all day, everyday in your store can often seem exciting. Fast forward a few years – or even months – and there gets to a be a point for almost every retailer we know that they wish things were not so strict when it came to store hours, face time in store, etc. Here’s the catch – it’s strict for a reason and it’s simply part of retail. You should do everything you can to avoid closing your store early or at random times during the day – unless it’s a quick 15 minutes or so to grab lunch, walk your dog or run a fast errand. We get that. Otherwise, strive to find support to give you the balance you need in being away from your store. This may mean hired help. Maybe a friend can help you. Whatever it is, don’t let yourself get burnt out. That’s where things go downhill.

5. Logisitcs. A license for this. A license for that. Who knew in retail you would have to gain permission to put a sign outside your door? While each retailer and each commuity is different, for the most part everyone has been surprised by all the logistics involved in getting doors opened and more importantly, stayed open. Whether it’s serving wine at a party you have or putting a new overhang sign on your door, there are hurdles to consider – legally. We’re not even talking about the licenses you need simply to resale as a retailer. Our suggestion? Don’t take shortcuts here. The steps may seem long and mundane, but they are a must.  Plus, fines add up. And from our notes, fines are distributed way too often!

While it’s impossible to give everyone a master plan to easily navigate your unique store and your unique steps in this crazy business we know as retail, we certainly try our best to give you some support. And we hope you can each support each other, too! Leave comments below about your biggest frustrations and struggles in retail. It’s our bet you aren’t alone.

Want more support to help your business thrive? Want to learn about other retailers who you can learn from and lean on? Be sure to checkout Retail Minded Magazine – the nation’s only Retail Lifestyle Publication! Plus, we’re “boutique” like you so we need your support to stay alive!

Mobile Marketing for Indie Stores

Customers take pictures of products and send to friends for their feedback. They scan barcodes to gain price information and more. Consumers even compare prices of products from one store to another with their mobile devices… so it’s no surprise using mobile strategies as part of your overall marketing plan is important. The question is – just how important is this for a small, indie retailer?

To answer this very simply – it may not be at all for many stores. Part of what you sell and the store you have created is to be a hands on, old fashioned kind of shopping experience. Then again, you need to consider modern ways and modern customers to keep your store thriving.

Three things to consider doing to help integrate your store with mobile marketing and ultimately, mobile sales include:

1. Incorporate coupons or discounts into mobile technology. Text discount codes or special incentives versus just send them out as an email or via social media.

2. Encourage customers to take a picture of something they are debating on buying. By doing this, it will leave an impression with them again and again as they scroll through their photos… and often encourage them to come back and buy it. Without a picture, it may be dismissed in their busy lives.

3. Include scannable QR codes or offer website addresses about store products. Or both. Either way, they will be engaged with their phone. And the reality is, many consumers like being engaged with their phone. If you can connect with them through that, then you have met your goal.

Mobile marketing isn’t going anywhere. In fact, studies suggest it’s only increasing. According to comScore, mobile marketing is a big trend that is sure to stay around for awhile. Just consider these points below (as provided by comScore).

• 1 in 5 U.S. smartphone owners took a picture of a product while in a store.
• About 1 in 5 smartphone owners… aka customers… scanned a product bar code.
• 12% of all smartphone owners used their phone to compare product prices while actually in a store.
• Nearly 10% of consumers use their phones to find coupons or deals.

 

Day 3: Fashion & ASD Blend Well Together

A quick glance onto the floors of ASD Las Vegas and you will be left wondering where to turn. There are many fashion focused exihibitors at the ASD Show who offer fashionable finds that are in tune and even ahead of today’s market. With price points affordable and margins too good to be true (but yet they are) retailers are in buying heaven at ASD.

Customer William Gifford from Oregon says it best. “The ASD Show is the most comprehensive show you can go to offering the best assortment at the best price.”

But don’t let the prices fool you too much. While there are great companies to buy from that cater to low wholesale and high markup, there are also terrific vendors that are very boutique oriented. One such exhibitor is Zsa Zsa Jewelry, where designer and founder Meena Catalano has her own designs available at $45 – $1600 wholesale. On the opposite end of the scale, OMG Blings delivers high fashion at affordable prices, beginning at $1 wholesale. With styles comparable to what you see in fashion magazines and on the runways, retailers can hit a home run in buying for their stores.

From jewelry to clothing to footwear to handbags to luggage, the assortment that ASD Las Vegas offers goes on for what seems like forever. There are countless vendors to choose from, as well as vendors to help support your store displays. One such exhibitor is recently launched WOW, which is a creative, unique jewelry and apparel organizer. Founded by Laurie Clayton, these affordable “hangers” are great store display options as well as items to sell to your customers for their own closets. QVC has given them a 5 star rating, and now you can bring it to your own stores thanks to the ASD Las Vegas Show.

All this can make buyers tired, but ASD Las Vegas has this figured out, as well. Their lounge area has a DJ rocking just enough to keep you awake while taking a break. And when your feet are ready to move again, there is no shortage of fashionable finds to discover.

 

Customer Service for Online Stores

In a world where I-pads and online shopping play a big part in consumer lives, it’s important to consider how you can effectively still deliver strong customer service – despite a face to face encounter. It doesn’t help that as small business owners, we compete with big-box stores online (and everyday, let’s face it). But that can also be to our advantage. Here’s how.

1. Personalize your order confirmations. Unless you are dealing with twenty plus a day, this is very manageable. A customized thank you and receipt of order being placed is a fantastic way to share a customer experience that leaves the customer feeling like they have actually had an experience.

2. Package product with care & beauty. Don’t just wrap a product in tissue, put it in a box and send. Instead, create a beautiful package that is exciting for the customer to open – even if it is not a gift. This experience helps create the brand  of your business, as well as leaves a lasting impression on their overall customer experience.

3. Confirm shipment & delivery. Once a package has been shipped, do not consider your job done. Instead, send an email with an estimated delivery date, then follow up a few days after delivery to ensure everything is satisfactory. Often this will lead to conversations that customers will feel engaged in, sharing insight with you that you would never gain otherwise.

Remember that being a “boutique” business lets you stand apart from the competition – so don’t be afraid to do just that. Add special extras, offer thank you incentives (20% your next purchase is always welcomed by customers) and be bold in your total boutique branding. This sets you apart from the big-boxes and even other indies out there. And ultimately, this sets you apart in your success, as well!

MONEY MATTERS: 3 Money Tips To Save Big

One of the things I am into is saving money. I know that sounds kind of hoaky in this age of super cool and the ultra persona, but I’m old fashioned. I grew up in the 80’s. I saw what Middle America looked like in the old days and it was pretty quaint. There were only a few rich people in town, everybody else was pretty average.

My middle-class upbringing exposed me to an appreciation for saving money. Like my grandparents – they had huge piles of coupons lying on their kitchen table every single time I went over there. And my parents, I saw them save too. Buy less junk food, no new shoes, we don’t get the cool pants this year. Yeah, I’m still scarred from that one, but that’s a different story.

So I decided to put my middle-class upbringing to the test this week and push the boundaries of normal consumerism. Something more like Gonzo consumption. Here are the three little battles that added up to one big victory.

Cell Phone Victory

I spend a lot of time on the phone. I talk to clients, I gather information, I chat with my friends. So for the second month in a row I’ve gotten a little too crazy for my cell phone company and went over my minutes. That means it’s probably time for me to get a new plan because clearly this one isn’t working anymore. I call in and find out the only plan with more minutes is unlimited for $99/mo. My current plan was $50/mo. Not super pumped about doubling my monthly bill, I decided to hit the Street in search of a better deal.

That meant Googling “cheap cell phone deal” and sifting through the results. I came up with an offer from a leading cell-phone company for unlimited at $50/mo. That was half of what my current company had offered me! Looks like I’ve got a winner on my hands.

So I called back in and told them about my new offer. Without even blinking an eye, the young lady on the other end of the phone offered a “special” package besting the competition at $49.99/mo.

I was blown away. You don’t want me to send this offer to you? Do you want to verify that this is real? No such formalities. I was moved into the $49.99/mo crowd and sailed happily into my day.

The Olive Bar at Whole Foods

I don’t know what it is about Olives, but I love them. I think they are delicious. There’s something about that rubbery texture that just gets to me.

So it didn’t take me long to discover the olive bar at Whole Foods. No doubt this has to be the premier olive bar in the city, but it also happens to be expensive; to the tune of $8.99/lb. That’ above the $7.99/lb for the salad/hot bar but below $13.99/lb for premium roast beef.

I knew it would be dangerous for me to dabble with the olive bar, because to an olive lover, a pound of olives doesn’t really get you very far. But I couldn’t resist. So sure enough, a few months go by, and I am recklessly hitting the olive bar 2-3 times a week. My cute little romance with olives has turned into a $16-$20 a week habit, putting me out about $1000 at the end of the year. Holy smokes, I have a serious olive problem!

Anyway, long story short, I decided to cut back on the olives. Cutting some luxury or highly discretionary spending from your budget is a quick way to save cash. A friend also introduced me to quality olives out of a jar. They are cheaper and just as good.

Annual vs. Monthly

When I was at the gym the other day whaling away on the elliptical, I noticed some fliers announcing sales on annual memberships. At the time I was paying monthly, so I wondered if I could save some cash by shifting to a different model.

Turns out I could. My monthly rate was $45. Going to the yearly plan pushed that down to $34, adding another $11/month onto my roll. Not exactly rocket science or trading derivatives, but a guaranteed return none the less.

The Power of Numbers

So when you add all the little victories together you have something with real substance. In this case, that’s a monthly savings of $133 that comes out to $1500 at the end of the year. And who wouldn’t like to get a big check out of thin air once a year? It takes a little discipline and some strategic moves, but in a world that is ultra competitive to earn high wages, savings translate directly to the bottom line.

Savings Profile

• Cell phone-$50
• Olive Bar-$72
• Gym Membership-$11

Monthly-$133

Annual-1.5K

1.5 is a lot of money to most people – and certainly small biz owners who have overhead to manage in their storefronts. So there’s only one more point to make – what can you cut back on to save some cash for you?

MONEY MATTERS is a weekly column on the Retail Minded Blog that is contributed by Michael Vodicka, founder of boutique financial consulting firm the Vodicka Group. MONEY MATTERS is Retail Minded’s way of supporting independent store owners with all their financial concerns, real life needs and everyday issues both in and out of their  stores. You can find MONEY MATTERS every Wednesday on RetailMinded.com as well as in each issue of Retail Minded Magazine. 

MONEY MATTERS: Rolling Over Your 401K

Branching off on your own and starting a small business requires a giant leap of faith. Without a doubt, it takes a lot of guts to buck the trend and pursuit individual greatness. But while most entrepreneurs are eager to ditch the formalities of life in a cube, there is one thing you don’t want to leave behind; your 401K.

There are more than a few reasons why rolling your 401K into a regular or ROTH IRA is the way to go.

5 Benefits of a 401k Rollover

1.)    More Investment Options

Even though the 401K is a great tax shelter and a great way to save for retirement, one of its weaknesses is offering only a limited number of investment options, typically carrying a very short list of equity and fixed-income mutual funds. That is barely a fraction of the few thousand that are available through an IRA. Beyond access to the whole universe of mutual funds, you can also purchase individual stocks, bonds and ETF’s in an IRA, giving you an opportunity to invest in your favorite companies and a broader range of investment ideas.

2.)    Lower Fees

Although our consumer instincts don’t typically associate more options with lower fees, in the case of the IRA, that happens to be true. Beyond the cost of execution, the transaction costs associated with buying and selling securities, there are no other additional add on fees for an IRA. That is sharply contrasted to the fee structure of the 401K, where participants are frequently subjected to wrap and 12-1b fees, technical mumbo jumbo for the little guy getting hosed while the guys at the bank shop for a new summer home. The IRA is a cheap way to house and invest your money.

3.)    More Support

Rolling your 401K into an IRA also provides a great platform to access more support for your investments and long-term financial goals. That’s because you can hire a personal investment adviser to help you find unique investment opportunities and manage your account, a relationship and service that is generally unavailable to 401K participants.

4.)    Tax Shelter and Additional Contributions

One of the features that the 401K and IRA have in common is that they both provide a highly effective tax shelter that enables participants to avoid double taxation. But in this instance, the IRA once again races to the front of the pack, because after you leave your day job, you are no longer eligible to make contributions to a 401K plan. But when you roll your 401K into an IRA, account holders are eligible to make annual contributions of $5,000. And in some cases, under certain “catch up clauses,” that number jumps 10% to $5,500.

5.)    Better Access and Execution

While you do have the ability to adjust the holdings in your 401K portfolio, that process is more than a bit cumbersome. Many times, it requires you to log into an unfamiliar web site, submit a request to change your holdings and then continue to log back into that unfamiliar web site for days on end to see if your allocations have been adjusted. Needless to say, it is not a very smooth or transparent experience that leaves you guessing on what prices you bought and sold. The IRA is the exact antithesis, providing both real-time access and monitoring of your portfolio and holdings and the ability to change positions on the fly.

The Takeaway

So if you are one of those ambitious people in the world choosing to leave behind the shackles of the corporate grind, don’t act in haste and forget to take something with you. Roll that 401K plan into an IRA and give your investment account the same kind of freedom and expression that you yourself are looking for.

MONEY MATTERS is a weekly column on the Retail Minded Blog that is contributed by Michael Vodicka, founder of boutique financial consulting firm the Vodicka Group. MONEY MATTERS is Retail Minded’s way of supporting independent store owners with all their financial concerns, real life needs and everyday issues both in and out of their  stores. You can find MONEY MATTERS every Wednesday on RetailMinded.com as well as in each issue of Retail Minded Magazine.

Single Issue, Subscibtions & Group Rates Available for RM Magazine

Retail Minded is excited to deliver the PREMIERE ISSUE of Retail Minded Magazine in early February! Single issues are available for purchase, as well as subscriptions are now available. Additionally, Retail Minded offers preferred rates for groups, associations and organizations. Wholesale rates are also available. Please contact Retail Minded at nicole@retailminded.com for pricing details, as well as any other inquires you may have unique to your business.

Thank you for your support! We look forward to introducing you to the only retail lifestyle publication in the marketplace – filled with news, education and support for boutique businesses!

Learn more at www.retailminded.com/magazine

 

 

 

 

Reducing Your Retail Overhead

Ah, the bliss of running a retail store. The joy in being your own boss. The love of paying your own bills.

Wait. That’s not right. There’s not really love involved in paying bills… even the ones you know you need. So when times get tough or your budget gets tight, reducing your retail overhead is a must to ensure your business stays afloat.

The tips below can help you achieve a more manageable retail overhead  without compromising your business objectives. While there’s no promise you will like what you see, there is the promise this can help (at least a bit… we can’t solve all your challenges via one blog!).

1. Eliminate services you pay for but do not use. This may be two phone lines versus just one, a fax machine you rarely use or a membership to a local gym via your company account. If you pay for online memberships of any kind, consider if they are really worth it. Often you’ll find you are being automatically renewed to things you don’t even participate in anymore. These things add up!

2. Buy in bulk – even if it means paying more upfront. You’ll need paper, receipt rolls, toiletries and many other obvious supplies during the course of every work year. Rather than buy these things as you go along, buy in bulk from a warehouse store to save money in the long run. Plus, this will save you time since you only have to make a couple trips to the store versus monthly visits.

3. Give up cleaning services. I know, I know… cleaning your own toilet is a dreaded chore and certainly cleaning up one that is shared by many is worse…. BUT sometimes these cost eliminating sacrifices are what it takes to get focused on saving and making money versus spending it.

4. Let go of professional organizations that cost you money. Some networking groups are effective in building your business, while other professional organizations charge you a fee that may not be worth what you get in return. Really consider if what you pay is worth what you get from it. Then, consider eliminating this expense only if it makes sense for your business and budget goals.

5. Scale back on trade show participation… But still go.It’s essential to keep up with trade shows, new vendors and what’s hot in your retail environment, but attending every show isn’t always effective. Often it may just mean sharing a hotel room versus getting your own on a buy trip, or other times it may mean going to two shows a year versus four. Every penny adds up on these excursions, so think about each penny being spent as if it’s your last one.

While each retailer is unique in their vision, goals and budget, the above list can challenge every retailer to think about how their dollars are being spent. Next time you write a check, will it be for something that’s effective for your business, or will it be for something you could have done yourself or don’t need? Keep asking yourself these questions as your business grows, and soon you’ll have more money to spend on what really matters (even if that’s a vacation on your time off!).

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