Thursday, February 17, 2011

If you find a penny, put it in my pocket..

It is tax time.

For the first few years, KSS was a very small side project. We are still a "small business" by definition, but not so much, compared to ye olde days when a sale happened once in a blue moon and we could fit our expense report on a post it note. No more Mrs. Crafty Pants. This year was about making some noise.

This has been our very first, full fiscal year as a business. Gosh what fun we had!
Designing, networking, chatting, trade-showing, hoteling, serious faced meetings (in which I had to wear ironed clothing), handshakes, deals, landing accounts, advertising... it's so easy to forget that all of this fun = spending. I kept a pretty good running tally of what was going where, but it's completely different than exact dollar amounts. More seriously, amounts owing.

This is the first time I've had a good sit down to comb through every little thing. Every fraction of a cent has to be accounted for. As great as I think my records are, they won't stop me from sitting and obsessing over receipts, invoices and bank statements until my accountant tells me to stop.

 I wish I were more like her, she fluffs me off all of the time. I call her in a literal panic, learning soon enough, I was her laugh for the day. Our books are easy-breezy compared to some of the major cooperate accounts she works with.

I must say - having all our ducks in a row is also important because we're about to go public and ask for investment in KSS. As great as the exposure could be for us, it could be horrific if I show up with inflated numbers and a huge ego. Any hope we have of success with our next move, completely relies on having a correct valuation of our company.

All in all - I'm a little stressed. Many companies sink in their first few years because they do not pay attention to their finances, ultimately getting themselves in trouble. We do not want to be that company. We have had a huge benefit, slowly growing over a number of years at a rate that we could handle, financially. In our "first" year we have become substantially profitable (despite our expectations)  - not many businesses can say that.

I need to chill.

If we plan on growing this company to the level we're hoping for - I can't be breaking out in cold sweats when I'm faced with big numbers - a hard habit for the mom-on-a-budget to crack. How do you let a 5 figure number roll off your back, when a 3 figure grocery bill has you sweating buckets?

This year has been a learning year for me, personally. Kurt has been running his own business for years. He sees me pulling out my hair, it's just another day in the office for him.

I will probably have to go through this a few times before it becomes old news, and I buy one of those cool green 'tax' hats you always see in 80's movies.

Lets hope next year is a green tax hat year. Please!

**Editors note - Lets all pat Sarah on the back - I typed this entire blog with a 2.5 year old on my lap. Multi-tasking is the new black**

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