Thinking of calling it quits

[j3jewelry]

So this year and last I didn't even make the minimum necessary to even need a business license from my jewelry sales. I am seriously thinking of dissolving my business. I am now attending college part time, working full time and it's getting even more demanding, so we're looking at 50-ish hours a week. I hardly even come by here anymore, I'm hardly doing any jewelry work to even discuss. And I miss you guys....

I am so disorganized about the business stuff. I absolutely *hate* the paperwork I have to do (in fact hate is not a strong enough word), and inventory and all that stuff. I so need someone to do it for me, or create a system for me that all I have to do is just follow/continue on. Creating my own system has been a big fat failure, and my "board certified" accountant isn't interested in doing that for me. She gives me vague information and then looks at me like, 'are you done yet?' It's really depressing actually. It makes me really stressed out because of yearly taxes. I used to do them all myself and now I have to have an accountant that is asking for so many records, I can't even come up with them. This is too much stress for me to deal with.

I would still make jewelry of course, I haven't lost my love for it, but I just think having a business is not for me at this time. I should never have created one. The reason why I got the license is because I did make a chunk of change at one event, one night, that netted me extra orders and a little side business for a very short time. I kept hearing about this lady on the internet that was actually searching out people selling jewelry and looking for the ones with no license and reporting them to the IRS. This went on for a few months that I heard about her, so I thought to myself, 'self, this is your warning and better heed it before she gets you too.' So, I got my license. And that's when it all died down. My anxiety about that went away but the business side of things just started. There's a lot information out there, but there's no comprehensive guide for a small proprietor like me. I had to try to piecemeal it all together and let me tell you the tax laws are crazy ridiculous. I am college educated and they make me feel really dumb. I can't afford a bookkeeper or helper so it's up to me.

I just think it's best to deal with it now and cut my losses before it gets any worse. Is or has anyone else dealing with or have dealt with a similar situation?

[Michele]

Jeanne, it sounds like you have a lot on your plate right now. Maybe a break from the jewelry business is what you need. You can still make jewelry for fun, but won't have the headache that goes along with a business.

I think at some point, we have all wondered if it's worth it. You have to do what is right for you. Maybe when you finish school, you'll have more time to devote to running a business.

Whatever you decide, I hope you'll continue to visit us when you can. We've missed you.

Take care of yourself.

[Sophy]

Jeanne,

You do have a lot on your plate. I am in the same boat, plate-load wise. The difference is that the business side comes easier for me (I am a CPA and also an MBA). Nonetheless, with the added stress from life events, I still took a break this past year, and am planning to ease my way back in next year, but slowly.

I do understand about the information overload. Despite my business experience, I am not a marketing expert and I have accumulated a ton of information on the topic, much of which is conflicting, and some of which involves technology with which I am not familiar.

I found that the folks on this forum were incredibly wonderful in terms of helping me keep my spirits up during what has been a challenging year, so I hope you'll still drop in as your schedule allows.

If and when you are ready to get back to business, PM me, and I'll see if I can help you develop some systems that make it easier for you. Just not during tax season (Feb-April), if you don't mind, as I expect to be crazy busy this year.

[Sophy]

Btw, the IRS does not care whether you have a license or not, as long as you report the income. It is your local jurisdiction that could cause you problems.

[caeterle]

I think everyone is dealing with that sooner or later, and it hits you really hard at times you know you don't really have time for it at all. Then again how would it make you feel if you just quit? Maybe just a little longer? It will all work out? The next day or week or month you are at the same point again then.
At least that how it happens for me. Having a small, in fact tiny business, makes things a bit easier for me on the tax side. Or maybe I'm just doing it all wrong. And I still know what you mean about being overwhelmed and not understanding. I doubt US taxes are any easier to handle than German ones.

A business takes up so much time if you want to do it right. Promoting eats away your hours, so does creating, but that's the fun part. It's good to hear that you haven't lost the fun.
If it makes you feel better and more relaxed, do take that break before you lose that, too.
In times with a plate so full it sometimes good to have that way of relaxing.

I hope I made sense. I just got up from a killer nap after not feeling good today and don't know if my brain is still in bed

P.S. I totally agree with Michele. Don't be a stranger. We'd love to have you visit here with us

[DawninCal]

Jeanne, you don't have to have a jewelry business or even be actively making jewelry to hang out with us, you silly goose!

You sound very busy with many things right now, so set the jewelry business aside and when things settle down, you can re-visit whether or not you wish to pursue it. If not, there's not a thing wrong with going back to making jewelry for fun and pleasure.

Maybe you could put a new spin on it by combining your love of photography and jewelry making and start taking product photos for others. You know how many of us complain about how difficult it is to take good photos. I'm sure there are people out there who would be willing to pay someone else to take their photos. Food for thought.

Whatever you decide, make the decision that is best for you, not what you think others may think is best for you. And, don't be a stranger around these parts - we love to see you here!



Dawn

[koolbraider]

Jeanne, the same kind of thing happened to me; the place where I sold closed. State regs probably differ: in Maine you need to make a certain level of income for a license so I was able to sell without a license as long as income was reported. Every purchase and sale was kept in the same book; items got crossed off as used so inventory may not have been entirely accurate but my business was so small the guy who did my taxes said not to worry about it. Is your business this small?

But it sounds like you need some serious "no jewelry business" time. Look at it another way: if you aren't pulled in so many different directions you will be free to let any inspiration creep into your overburdened mind. And you can always make something if someone requests it (am not talking net business here) and you can always make gifts. But these things can be done when you have time; your schedule. I like Dawn's idea of photography since photos can sit for a while if you need to do something more important.

P.S. Don't feel guilty if you can't check in here as often as you used to but we'll be happy whenever we hear from you.

[j3jewelry]

Thank you ladies, so very much. Sophy I'll probably take you up on that when I'm ready. Cat, I have been thinking those very same things for a year now. Since I haven't really changed how that mind-speak is happening, it's probably time. Dawn, you must be peeking into my head. I have been thinking that very same thing now with combining the photography skills with product photos. I just took a few pictures of some earrings I made today as late Christmas gifts. It made me realize I have some backdrops to invest in, in order to take those photos! Even my own, really. I like to document what I make. And koolbraider, yes I think I really do need time off. But really just time off of the business part. Not that I have much to do but it's a constant thing on my mind. Tomorrow I'll be doing my last quarter business taxes of 2013, with one whole transaction to report. LOL And Michele, yes hopefully just a little bit during school I can do some things. I just found it extremely difficult to do any jewelry stuff while I was taking classes. And really mostly that is due to all my stuff being packed up. I have to drag it all out every time I want to do something. I had 2 requests to restring some bracelets. Just about the easiest thing in the universe to do. It took me months to do. I am not proud at all to admit that. I think that was the last straw, because if I can't do that in a timely manner, it's no good.

Well, be on the lookout for my earrings in Show and Tell. They were simple throw-togethers, but the ear wires were handmade. Once I got used to my butane torch, I don't know if I can go back to using pre-made ear wires.

I won't be too much of a stranger. I enjoy everyone's company, and the pieces everyone posts, and the chit chat very much.