New Years Resolutions For Our Business And Family

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Happy new year everyone! As you probably may have noticed, things have been a bit quiet lately here at For the past two and a half weeks, I’ve been on vacation with my family visiting relatives down in Southern California and just got back a few days ago.

My original intention was to make it a “computerless” vacation and though I didn’t quite succeed at avoiding my computer, it was quite nice to just relax with friends and family.

The problem with coming back home is that you have to face reality once again. But we are extremely excited for what is in store for us in 2009. Here’s a list of things that my family and I hope to accomplish this year with both our business and family life.

We Want To Transform Our Business Into A Real Business

What do I mean by a “real” business? Currently, my wife and I don’t consider our store a true business yet because it relies almost entirely on ourselves to run. When we go on vacation, our business ceases to function.

When we travel, we have to close up shop. This past December, we had to close our store for the latter half of December in order to travel down south and probably gave up about 8k worth of revenue.

What this means is that we have to hire more outside help and consider outsourcing. Currently, we have a few people we pay hourly working for us, but we need to find someone who can help manage the entire operation.

By transforming our business into a living entity, our goal is to have more freedom and more time to expand the business.

We Want To Have More Family Time

Running a business and raising a child is not easy. On several occasions, my wife and I have had various “business” issues interrupt our family time. While this doesn’t happen very often, I would like to minimize these situations as much as possible.

We need to remember that the purpose of our business is to allow us to spend more time together and not to have the business consume our lives.

We Want To Spend More Time With Our Friends

We didn’t see our friends very much last year at all. Part of the reason was that our newborn child required extra special attention. The other reason was that we were still cultivating and refining our business.

Now that my daughter is almost a year old and our business is more established, we plan on focusing more on our friendships this year.

We Need To Find More Reliable Vendors

One of the downsides to our current business model is that we are highly reliant on only a few vendors. Having only 2 or 3 suppliers greatly limits our bargaining power and makes our business somewhat fragile.

If any of our vendors were to just disappear, our business would be in a lot of trouble.

Especially when dealing with overseas vendors, it is absolutely critical to establish a good business relationship with all of your suppliers. In the past, we learned the hard way that contracts are worthless and that a proper relationship is the only way to do business successfully.

Of course, it takes a lot of time and energy to establish good relations with new vendors, so my wife and I plan on making a trip out to Asia again to make new contacts this year. We’ll be traveling with a little one this time and we hope that it won’t be too much of a problem bringing her along.

We Need To Streamline The Business

Even though we did a fantastic job of increasing the efficiency of our business last year, we still have many problems left to tackle. For example, our inventory management is a disaster at the moment.

This year, we hope to implement much tighter inventory controls through the use of a bar code scanner and a more tightly coupled product tracking system. We also need to increase the speed and efficiency of our order fulfillment process as well.

We Need To Enjoy Ourselves More

Most importantly, we need to find the right balance between our business and family life. My wife and I need to lighten up and not let little things bother us. We need to learn to let things go and be willing to take a few losses when transactions go awry.

My wife and I have high hopes for this coming year which I’ll document in this blog as the year goes along. I just want to thank all of you for sticking around and following our story.

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8 thoughts on “New Years Resolutions For Our Business And Family”

  1. Good job on considering outsourcing. It’ll help you because then your business can be a standby business instead of an active one that you need to take care of daily.

    Good luck!

  2. Happy New YEar!!!
    Reality sucks. but you shouldn’t get so down, You are a great writer, and so personable, I am sure that your current business will prosper, even in these darkened times, I enjoy your writings and your blogger friendship, What you are feeling, (the crashing down of the world on your shoulders) for a family man, is completely normal, I know I feel it, and have every year that I’ve had my own family. In good, in bad times, it still happens, and is why the Holiday Season, the stress, the good times, etc, I always dread, and when it’s over, the Reality crashes down on your shoulders, like you are holding up the entire world yourself, with this one burden added, I have to succeed and take care of my family,etc, but I’ve learned that there are two things that happen, you succeed or you don’t, things are good or there not, and whatever it is, time, life, moves on, and sometimes feeling so bad, unfortunately feeling it’s not the end of the world
    May God be with you and your family.

    1. Hey Shea,

      Thanks for the kind words and thank you for being such a good friend and supporter. Hope you had a wonderful holiday season. I’m so dreading going back to the office tomorrow.

  3. You have created really great goals for this year. I have really enjoyed your blog since I discovered it a few months ago and its been a pleasure to follow your journey in all of this as I go through the motions with my own business. I look forward to seeing whats in store for you in 2009.

    1. Thanks Carla,

      I appreciate all of your comments and kind words. I hope to read more about your business as well and how things are progressing. Let me know if you ever need any help.

  4. I think you thinking very well! It is quite healthy to recalibrate and move forward. Sounds like you have done an awesome job in the past, and have great plans for getting even better. Best wishes.

  5. Happy New Year to you too! I think you have set some very important goals for 2009, especially with regards to family and friends. I believe streamlining your business is one of the best things you can do for time management. My motto is “do less and get more done.” That being said, it is often difficult to accomplish. I am constantly working on software that will help do that for my clients. Ways you can organize your company and all the things you have to get done for your business through one central location on your website. Whichever way you choose to go about it, I wish you all the luck, and look forward to keeping track of how you’re doing.

    1. Thanks Scott,
      I think hiring someone to help run the business is going to be the most difficult thing to do. We basically have to trust this person with almost every aspect of the business. Will let you know how it goes.

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