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[source](https://fisherbookkeeping.com/examining-your-pl-report/)








It was made very clear today how delicate the business we are taking over in the New Year really is. The landlords have not been paid their rent and it is the 19th already, so nearly 3 weeks overdue. The accountant said to tell them they have to understand that the issue with the ports has had a knock on effect. The reality is they will understand, but they wont care as the bills need to be paid.

Stock that was meant for Christmas has still yet to arrive and two containers that were delivered yesterday were Christmas trees. That means that stock now moves to 2024 Christmas as it has missed this years already. The port delays are a real concern, but surely profits have been kept aside throughout the year even in a downward trending economy. All businesses have their ups and downs, but when one business has more downs than ups you have to start asking the questions.

The staff have been informed there are no bonuses this year which is also a low blow considering many travel back home this time of the year and use this to pay for all the extras. Just because you have messed up now means everyone else has to now suffer due to your own short comings. The sad part is what hey have is an excellent business and it has just been run very poorly with stupid mistakes which they repeat over and over again.

What this has done is actually a good thing in my book as the new business standing on it's own two feet by April/May is priority number one. If the main business goes under which I hope it doesn't, our business will be fine either way. I have been calculating that I could have the rent and staff all covered very quickly and that must be the priority when we go live in January. The two new clients will cover 35% of the total expenses and expect they will also want to be supplying Amazon in Februarys so that figure will rise to 50% by the end of February.

The landlords know where we stand and starting out on the wrong foot is not smart so they understand we want to be separate as quickly as possible and in control. I know the cost of warehousing and finding another warehouse at this price would be impossible so keeping them happy is vital. This is a real deal breaker due to the exorbitant cost of rentals that are out there and we are not talking a 10% difference, but a 70% difference for the deal we currently have.

My involvement in the business could not happen soon enough and if the business went under tomorrow I have enough funds to get through to June covering all the expenses. This is something I would not hesitate doing as then it would mean taking on the entire business which is too big an opportunity to pass up. We shall see where this leads and I am happy either way as there are benefits on both sides. 

One of my old staff members told me he cannot wait till January when I am back as he knows things will be alright then. Like I said earlier this is a very good business that has been poorly run and they should not be working month to month with what they have. I just find the whole situation more disappointing  than anything else and feel for the staff who have not worked less hard, but they are the ones suffering. The pressure is definitely on to turn this ship around and become fully independent as quickly as possible. Definitely exciting times, but in my head I am preparing for the worse case scenario which I somehow think it will be which is not that bad either.

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