Archive for the ‘money money money’ Category

Company Figures

Monday, March 28th, 2011

 

Running your own company has one mega disadvantage – you need to know your figures. img_3468

 

Having said that, I do like to think of myself as a woman who knows no fear when faced with numbers. After all, my two main “Abiturfaecher” (A-level equivalent in Germany) were German and Maths. Moreover, I taught my kids not to be scared either. “Half the battle is won if you just look at the figures,” I’d tell them. “1+1=200? Does that makes sense? Where do the two zeros come from? Just look and think and you’ll know it can’t be right.”

 

However, for the best part of Peirene’s existence I’ve been trying very hard to turn a blind eye when it comes to figures.

 

Peirene’s figures had a glorious moment back in December 2009 when I sat up a beautiful spreadsheet to account for month-to-month cashflow. Only I didn’t update it for months. At regular intervals I would hand receipts and sales statements over to the accountant and hoped that my job was done. Of course it wasn’t. Keeping record is one thing, putting all figures into a single spreadsheet to compare and analyse them is a totally different exercise. This dawned on me in autumn 2010. Thus,  in a weekend-long session I updated the spreadsheet. Since then, at the end of each month I input the numbers and contemplate their meaning. Proudly I thought I’ve finally got the hang of the Peirene numbers.

 

A few weeks ago the Company Accounts for tax year ending April 2010 landed on my desk for signature. I looked at the figures. I had never seen a Profit & Loss and Company Balance Sheet before. Nothing made sense. I didn’t have a clue what I was looking at. I picked numbers at random and told my accountant they don’t match up with what I had. I was right and the accounts were adjusted. But they still didn’t make sense. Eventually I realized there is no way round it, I need to undergo a crash course in P&L and Balance sheets. Luckily hubby happens to know this sort of stuff. He was summoned, we spent a day in front of the computer. By the end he gave me a loving compliment: Meike, you learned in a day what I spent a year studying at Business School.

 

Last week I had a meeting with the accountant. It was fantastic. For me at least. Not sure about them. I knew exactly what I was talking about. As I walked away form the meeting I had the same euphoric feeling I usually get when a text falls into  place on paper, when suddenly rhythm and voice and structure and plot come into alignment to from a single piece of art.

 

I invited the Nymph for a cappuccino in the glorious spring sun.

“So, are we going to be hit by a big tax bill?”

Peirene asked, stirring her coffee.

“A small one. We filed our accounts two weeks late.”

“Why are you so happy then?”

“Because it’s a wonderful feeling when you suddenly understand something inside out. I now know our figures, and I understand their connection and their effects on each other.”

“Hm, not sure, that rocks my boat,” Peirene conceded.

I, on the other hand, fell asleep that night with the balance sheet standing  clear and clean and tall in front of my inner eye. And for the rest of night I slept as soundly as a baby.

Waiting for Superman

Tuesday, February 15th, 2011

 

We all have our fantasies. Mine is about bureaucrats. I find the austere exterior alluring, convinced that a superman hides beneath. So far I’vesuperman_shirt_rip always been disappointed. But I haven’t stopped dreaming.

 

Once a year the European Union offers a funding opportunity for European publishers involved in the translation of literature. The deadline for the last submission was Thursday 3rd of February at 12 midday MET. This date is now engraved in my memory till eternity.

 

As with most funding opportunities, the terms and conditions are strict and precise. The application form is long and laborious. In this case, 20 pages and most questions to be answered in paragraphs of 2000 characters. Furthermore you have to describe your publishing programme not just for this year but the year after too. No problem. With some fancy footwork I managed to line up all the 2012 titles a few days before the deadline.

 

But then things became complicated. I attempted to fill in the e-form. Only I didn’t have the right Adobe version on my computer. I downloaded the latest version. Still no luck. I spoke to the London EU office, I tried my daughter’s computer. I rang Maddy. She ran a tester on her laptop. It worked. I wrote the answers into a word doc – two night’s work until midnight. Maddy rescheduled her other job to work for Peirene on Thursday morning to submit the e-form on time.

 

On Thursday morning we pasted and copied one page after the other. We were doing well. But it was not meant to be. At 10.45 (11.45 MET) the computer erased everything before we could submit. I had a little cry while Maddy kept her cool and send an SOS email with our application attached as a Word doc to the London EU office.

 

They rejected it. Over the following days, we pleaded our case. They rejected it again. We hadn’t sent the email to Brussels – as requested deep in the small print of the application guidelines. And we had sent it at exactly 11am - noon MET, so strictly speaking a minute too late. Rules are rules. We had cut it too fine. Sadly no Brussels bureaucrat ripped his white shirt off for us revealing a superman outfit underneath.

 

Have I learnt my lesson and decided to give up on the fantasy? No way. I will submit a new application for the 2013 books on a new computer with all the latest system updates next year. If there isn’t a superman lurking in the bureaucrat, then there needs to be a superwoman hidden behind the publisher.

Multi-Million Dollar Company

Saturday, December 19th, 2009

 

Over the last months Peirene has started to generate an increasing amount of interest. The guest list for the salon is growing and journalists webite-home-079smallhave started to reply to my emails. But even I hadn’t been aware of the real magnitude of the interest. Until Tuesday morning, when I got up as usual around 6.15. Lights were on in the office, lights were on in the kitchen, the living room, the downstairs loo. For a moment I was puzzled. I had worked late on Monday evening, until 1.30. Had I been so tired and forgot to turn off all the lights? Then my eyes fell on a open folder on the kitchen counter. It was the Bank and Tax Peirene file, which I usually keep in the study. A draft led me into the front room. And I discovered the open window. For a moment I stood still, then I panicked. I ran upstairs, into the rooms of the children. Both were soundly asleep. I rushed downstairs again, into every room and out again, trying to hold my sense of shock. We had been burgled! But it was a strange burglary. Nothing seemed to have been messed with, except that Peirene Bank folder, and my mobile phone was gone.

 

I called the police, barred my phone, rang up the banks and changed passwords. “But why did they look at the Peirene Bank and Tax folder?”, I asked the police. “It says BANK in big letters on the spine. You’re announcing to the world where your money is.” A thought suddenly crossed my mind and made me smile for the first time that morning: Perhaps these poor burglars thought they had hit the jack pot? Perhaps they even knew I was running a business?  Perhaps they checked out the Peirene website, the books, took one good look at all this and thought wow, we are going to rob a multi million dollar company? I know my little nymph looks good. I am very proud of her.  But that stunning and loaded with money?

 

The burglars’ feeling of disappointment must have been huge. I wish I could say my Peirene account is sporting big, beautiful round figures.

Not yet, I am counting on all of you to make that happen next year.

Have a lovely Christmas, hopefully without burglaries.  

Happiness in Spreadsheet-Land

Friday, December 4th, 2009

 

My last weekend was absolutely fab! Doing a spreadsheet. Can highly recommend it. Yes, you are right – that little green webite-home-065smallcross at the bottom of your screen. Just click on it – and you’re there – in spreadsheet land. Cheaper and quicker than going to Venice or Paris– and just as exciting. In fact I was euphoric afterwards, in Seventh Heaven, dirty weekend plus Spa plus five star hotel all in one little beautiful grid. Who can resist.

 

The weekend started off badly, mind. The joy of holding the first book in my arms had worn off, instead the huge task of trying to drum up enough interest so that it would sell had crept up on me. Also, I’ve recently made a lovely new friend who used to work for many years in the Contract department of a leading publisher. Besides giving me some valuable advice she has started to serve as my conscience. “Have you done your figures?” She asked once. Yes, yes, of course, I replied but didn’t dare to look her straight in the eye. Next time we met, she repeated the very same question. I repeated the very same answer, again avoiding eye contact. Then we had an email exchange and one more time she reminded me to do my figures. I didn’t lie. I did my sums right at the beginning of setting up Peirene. But I was also aware that much had changed: figures revised, new, unexpected figures added in. I hadn’t actually set down and worked it all out. Instead I did the maths in my head – enough to give me an idea of how many books I ought to sell to break even . An idea. Not factual knowledge.

So Saturday morning I woke up with a heavy heart. So heavy I couldn’t get out of bed. Husband got up, kids got up, son jumped on top of me to get me moving – no doing. Husband brought me a cup of tea. What’s the matter? – I think I have created a loss making business -  I sobbed into my cup. I am not getting up. Better still I will give up publishing!

Have you done your figures? Husband, too, then asked. I told him to get out of the room. I didn’t want to see him ever again. Give him up too.

 

Luckily I changed my mind and in the evening we sat down together in front of the lovely computer, and we held hands and clicked the green cross and entered spreadsheet land. And wow! If you haven’t done a spreadsheet you really have no clue what’s it’s actually all about. I learned about variable costs and fixed costs, and how different they are. And it’s the profit margin on the variable cost that really gets you going – anyway, I’ll spare you the details, I am discreet after all. Suffice to say that I came out of that experience a wholly satisfied woman. I haven’t created a loss making business and I now know exactly how many books I have to sell to break even on production, how many to break even on production plus overhead and how many to actually make some money. Beautiful, exact little figures – slightly higher of course than my rough estimate but not disastrously far off either.

 

So ladies, my advice for the Christmas period: If it all feels like getting on top of you, doom and gloom descending – just click yourself into happiness, into spreadsheet land – ideally with a knowledgeable business advisor at hand. Money back if it doesn’t work.

Of Pictures and Monsters

Sunday, August 9th, 2009

 

Setting up a business means spending money. I’ve made my calculations, I was prepared. But every now and again I come up against an monster-smallexpenditure I am absolutely unhappy to pay. Because I feel it ought to be for free, especially for small start up businesses like me. Such as authors’ pictures. When I found out that I am expected to pay some photographer or other for an author’s portrait – a tiny picture for the website and catalogue which, in all honesty, is not going to make or break the books, I was – I am – outraged. And I aired my view to a friend at a book do.

Let me just stop here for a moment and explain about this friend. He is famous – I mean REALLY famous – for his drawings of monsters and dragons – and almost every child in this country will have a book of his on their shelf. Yeah, I might be a small unknown publisher BUT I have famous friends. Yep, celebs in fact.

So this friend said: I’ll can do the portraits for you for free.

Or at least that’s what I understood. I few days later I emailed him: Were you serious? In the meantime I had got quite excited about the idea. My authors ought to feel honoured to be sketched by such a famous monster painter. A bohemian solution fit for a small but special publisher.

My friend emailed me back. He didn’t really say that. What he said was that someone might be able to sketch them. It’s not his métier. His portraits surely would all have big round monster eyes and crooked witches noses. And that, he feared, might cause offence and angry reaction.

Ok! I guess if I truly try I can see his point of view. But only just.

 

Anyway, help arrived from a different direction. I received a couple of authors pictures for free. Only that one of them is hidden behind a microphone. It’s a beautiful shot of the mike. Now I have to ask for a replacement, which surely will come in due time. Only sadly a bit late for the autumn catalogue. So there will be no authors’ pictures in the catalogue.

But not all is lost: You will find a picture of me instead. The smile is free and no photographer owns the copyright!

 

P.S. The monster is by me too.