HOW TO BEAT DEPRESSION!
Here's the story of a small, almost successful mail order entrepreneur,
and
how he overcomes the blues that comes with his way of conducting business:
What an adrenalin rush! Last week when I visited the post office my
post
office box was overflowing with orders. One day, I had to get a plastic
container just to carry the mail home. At the end of the week, I had
made
about $1,200 in orders!
Unfortunately, I spent money to stock up on inventory. I anticipated
receiving the same type of business the next week to make up for any
overspending I had done this week.That did not happen.
The next week brought in a total of $150 in orders _ and the week after
that
brought in only $10! After that, depression set in. I kept saying
"What will I do now? I spent the $1,200 and only have $80 to my name.
Rent
will be due in a couple weeks and I'm flat broke _ simply because I
let money
go to my head because I was temporarily "rich."
This is one example of how a business works sometimes and it's important
to
not take everything for granted. As employees of other companies, we
were use
to the fact of receiving a paycheck every week. Whether we worked hard
or
not, our paycheck was always the same and always on time. All we had
to do
was put in our 8-hours, 5-days a week.
Also, we were not used to spending any money to fill orders. If we
needed to
mail something, we sent it to the mail room or ran it through the postage
meter. As employees, we didn't pay for the postage out of our own pockets.
Our employer took care of it. That also goes for supplies. If we ran
out of
paper for our typewriter, we went to the supply cabinet and got a pack
out.
We never worried about spending our own money to pay for office supplies.
But when you own and operate your own business money is hard to come
by
especially the first few years. You generate your own income! So instead
of
thinking about riches and glory _ think about improving upon what you
already
have. If you have a $1,200 week pat yourself on the back _ but don't
be
stupid like I did and spend it thinking you'll have the same amount
next week. This may not happen for another 6 months!
Instead, find out "why" you generated this much money one week and
hardly
anything the next week. Did you stop marketing because you didn't think
you
had to anymore? Did you spend time filling all those $1,200 worth of
orders
and generating back-end sales? (A back-end sale is placing some form
of
advertising in with the orders you fill that will generate additional
sales.
These items should be for products and services that either compliment
or are
the same as the product the customer purchased.)
Were all the orders that made up the $1,200 week for the same product
or
different ones? Where did you advertise in order to generate this response?
Was it a specific publication or a combination of several of them?
Were the
orders for something that people run out of frequently (i.e., printing,
typesetting and advertising?) If so _ you can have a special offer
for these
same customers in a few weeks with a money-saving coupon for them to
use.
This will generate repeat business and the likelihood of another $1,200
week
in the near future.
However, if you do spend the money like I did and depression sets i,
just sit down for a moment and reflect on what you do have: a roof
over your
head, food to eat, a legitimate business that will grow and possibly
steady
out in the future, peace of mind and the ability to work on your own
without
employers and people breathing down your neck!
In addition _ if you spend the money and cannot buy the supplies to
fill the
orders, DON'T just avoid your customers and hope they'll understand.
Instead,
send them a postcard that simply explains that you had such a large
response
that you sold out of the item. Tell them approximately "when" their
order
will be filled and "when" to expect it. If you can't possibly fill
the order
within 30 days, give your customer the option of getting their money
back or
better yet _ issue them a Credit Voucher to use on future purchases.
If you have no income at all and cannot possibly refund people's money
offer
them something in return that you can provide. You need to find some
way to
compensate your customers. Remember that they trusted you enough to
see your
ad, write out a check and spend their hard-earned money on you. They
may not
have a lot of money either. Avoiding them will turn you into a "rip
off"
artist with no future in the industry!