February Report
I’m at a cross road. I can either grow the business organically as I have been doing, or go after outside capital and create a serious growth spurt. The problem with going after outside capital is that I have no leverage. Any loan I get will likely be on bad terms and will really cripple my business in the short term. An investment would be better, but harder to get and require a lot more time from me.
My inclination is that it is too early. I don’t believe I have yet reached my personal capacity, although I’m close. The question is: can I handle $6k a month in sales by myself? $7k? What’s my threshold before I simply cannot handle the business by myself? I need an answer to that question before I make the next big move.
That means working on increasing sales.
The good news is that the average daily sales in February were higher than in January! Less sales overall because there are 3 more days in January, but a sign of growth nonetheless. Plus, February was the 2nd straight month of positive cash flow.
This report is late because I have a lot on my plate and I pushed this down on my priorities list. I’ve decided to give the Writing Cooperative more of my time and this series is suffering for it.
I’ll do better on the next post.
This story is part of a series documenting the journey of a Dallas startup called Feather Laundry. For your reference here is the Table of Contents for the series.
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