I’ve recently had to wrestle with decisions to continue/discontinue certain business relationships/services and whether or not to go through a voluntary recertification process related to the day job. I’m sharing my thought processes here in case others are going through a similar situation.
When you are a micro-business, every dollar counts. I know what it costs me to be in business every year and at what point I actually start earning money. Last year, I made a calculated decision to start buying wholesale. I researched vendors and chose one with whom to do business. The experience was positive, but I am researching other vendors who may be better able to meet my needs with product assortments, fill rates, shipping costs and order minimums. (Sometimes Joann with a sale and discount coupon is the better deal and no shipping costs involved! Just sayin’!)
With regard to the day job, it’s hard to believe that a decade ago I was in the final stages of earning my specialist degree and completing my National Board Certified Teacher credentials. I have never once regretted the tremendous effort and financial sacrifice that went into earning my NBCT credential. However, after much reflection, I have chosen not to go through the renewal process.
Why? Because it doesn’t make fiscal sense for me to renew!
This is strictly a business decision. The ROI simply isn’t there for me. That money and time will be better spent elsewhere or set aside for retirement.
I use this same strategy in my craft business. I am willing to try new things, but if there is no continued benefit from a certain association membership, banking relationship, insurance provider, or wholesale provider, I look for alternatives that can meet my needs/help my business grow. I think we worry too much about hurting someone’s feelings. No, it’s business. For example, a friend has done my monogramming and machine embroidery work for years. She does a fabulous job at a reasonable price. Once I changed schools, I had to find a local shop to handle my time-sensitive work, because she now lives an hour a day.
Are you willing to let certain relationships/services go that no longer meet your needs? Please share.