{"id":2117,"date":"2012-04-10T08:56:36","date_gmt":"2012-04-10T13:56:36","guid":{"rendered":"http:\/\/ramblindan.org\/?p=2117"},"modified":"2012-04-10T09:03:18","modified_gmt":"2012-04-10T14:03:18","slug":"getting-down-to-business","status":"publish","type":"post","link":"https:\/\/ramblindan.org\/?p=2117","title":{"rendered":"Getting Down to Business"},"content":{"rendered":"

After I got all my tax work done, I was feeling so good that I tackled getting my The Hobbyist Machine Store (THMS)<\/span> bookkeeping<\/em><\/strong> in first class condition. I worked on that second most favorite thing to do (next to doing the taxes) until bedtime last night. I got it finished.<\/p>\n

I had the end of year (2011) balanced, closed and reports printed as needed for taxes, but I had let the first quarter of 2012 slide by without doing serious month end work. I can get by with that since my little business is a sole proprietor with no employees. The bookkeeping is accrual but THMS pretty much runs on a cash basis on sales and purchases<\/em>. In-state sales are so low that Texas lets me report only once a year on sales tax. I did that in January.<\/p>\n

My inventory is pretty much JIT (just in time) and I do some drop shipping so cash demand is low and cash turnover is good. I only stock rather fast moving items. I am considering investing more in inventory as I begin to contemplate when retirement from my main occupation might occur. Then I can spend a lot more time figuring how to buy in larger quantities and reducing cost for me and my customers.<\/p>\n

The personal time spent in sole owner business management is considerable. I actually enjoy doing it but it does take away a lot of R&R time after putting in a 12 hour work day in my regular occupation. A person really has to like doing it. I have spent half my career running small businesses. I was in fact a trained business management consultant to about 20 HVAC contractors when I lived in New England (USA).<\/p>\n

I currently work and devote most of my talent to a multibillion dollar worldwide corporation, earning a workable salary. So I have lived on both sides of the business tracks. Both have great advantages. But if you want to be independently<\/em><\/strong> wealthy, personal labor or working as an employee alone won\u2019t do it. (That is unless you are a sports star or other overpaid performer.) Earning your fortune requires upper business management where you can share in profit from selling the work of others.<\/p>\n

I currently could not make a survivable living with the low volume and margins from a simple one man business such as THMS. However, the money currently invested (without removing profit for my time spent) earns a better return than any other current traditional investment plan. That is a good enough reward for now.<\/p>\n","protected":false},"excerpt":{"rendered":"

After I got all my tax work done, I was feeling so good that I tackled getting my The Hobbyist Machine Store (THMS) bookkeeping in first class condition. I worked on that second most favorite thing to do (next to doing the taxes) until bedtime last night. I got it finished. I had the end of year (2011) balanced, closed and reports printed as needed for taxes, but I had let the first quarter of...<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[83,9],"tags":[54,108],"class_list":["post-2117","post","type-post","status-publish","format-standard","hentry","category-schneider-electric","category-thmstore","tag-hvac","tag-schneider"],"_links":{"self":[{"href":"https:\/\/ramblindan.org\/index.php?rest_route=\/wp\/v2\/posts\/2117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ramblindan.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ramblindan.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ramblindan.org\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ramblindan.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2117"}],"version-history":[{"count":0,"href":"https:\/\/ramblindan.org\/index.php?rest_route=\/wp\/v2\/posts\/2117\/revisions"}],"wp:attachment":[{"href":"https:\/\/ramblindan.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ramblindan.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ramblindan.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}