I originally wrote these rants with arts and crafts professionals in mind. This was a period when I was educating these folks on how to run their studios as the small businesses they in fact are. Bear that in mind as you read about craft widgets and retail shows. The principles, however, are the same as with any small business, and apply whether dealing with the manufacture of art or industrial widgets or service businesses selling time and expertise instead of goods. These are practical tools to help any businessperson manage a business better.
As if there aren’t enough figures dancing around the left side of your brain, here’s another concept that you need to have a grasp on if you want to stay on top of your business. It’s not enough to make profit; you also have to manage your working capital. (more…)
