From school supplies to Holiday gifts, Aug-Dec is a big spending month for people. So it makes sense as a business owner that January would be the one of the slowest months of the year for sales.
Instead of lamenting that sales are low, lets pivot and join me in a "No Spend Collection" challenge.
Why a No Spend Collection?
A lot of it has to do with my creative brain, I am frequently coming up with different ideas of things to make and so I buy things that I think I want to add to a collection and I either use it or I don't. So instead I decided to try something new!
How long are we doing this for?
I'm starting off with just a month and see where it goes from there. If you think a month is too long, try 1 week and see what happens.
Lets start with Guidelines...
Challenges only work if we have rules to follow to help keep us on track!
1.Exclude Wholesale Orders: This challenge is for a NEW COLLECTION only so if you have wholesale orders that require you to purchase items to make stock, then continue to maintain that expectation.
2. Keep Paying Your Bills: As I was researching No Spend Challenges, I noticed this was a given expectation. Make sure all of your usual bill requirements are paid for. (i.e.: website, artist programs..etc.)
3. Check your shipping inventory: I am planning on not purchasing additional shipping materials because I plenty but if you are running low then this is probably a good reminder for you to stock up.
4. We are using our current supply inventory. The goal is to help you use what materials you have on hand. The perfect opportunity to get creative!
5. Have fun: just like any challenge; we want to enjoy what we are doing. Perhaps this will help unlock another creative door in your mind.
How will you keep track?
You can use google calendar and mark every day you DID NOT spend money for supplies OR you can print out this No Spend Challenge Maker Style worksheet that I created to help stay on top of myself.
Just cross each day you didn't spend money and you are all set! Jot down any notes that you have for the month and reflect on how things went.
Share with me your lovely creations from current supplies!
Happy New Year!