Week 16

week 16 is a difficult one for The Shoestring InvestorOne of the perils of an occupation like this, is that for all intents and purposes I am pretty much a self-employed individual. Whilst there are some clear benefits to this, like choosing what work I do, flexible working times, building my own empire rather than someone elses, and so on – as with anything, there are also drawbacks involved. This week I ran head first into one of these pitfalls, and it wasn’t fun. I was unwell for the first part of this week and couldn’t get much done at all. Unfortunately, when I’m not working, I’m not earning (apart from perhaps a few very small passive income sources I have established, but we’re talking less than £1 a day there). I suppose it is part and parcel of the risk of taking on any kind of project that involves self-employment, at least in the early stages.

This has meant that week 16 has not come anywhere near delivering the kind of profit I was expecting. Instead of bemoaning this though, I am better off just accepting this for an unfortunate occurrence, and looking on the positive, which is that I did make some money nonetheless.

As can be seen, many of the income sources from this week are regular contributors. Saturday Night Football didn’t deliver the same high turnout as in previous weeks, however I still covered cost with a few pounds left over. Whilst it’s nice to be making more of a profit, it is also important to keep the continuity going and an enjoyable game to ensure people continue to be interested in attending. It may perhaps be time to advertise for players again -, this was one of the great successes of this project, in that all the advertising was done for free either online or with home-made posters and brought in a decent amount of customers.

Exit surveys - not much fun, but decent money

Whilst not exactly fun, exit surveys at least pay ok

I again did a days work collecting exit surveys towards the end of this week. This time it was far more tedious as it was in a shop with a lower footfall and the survey was considerably longer. To top it all of the pay was slightly lower as well! As such, I will learn to be a lot more selective about which jobs like these I take on, as looking back I think I could have made better use of this time.

In Summary:

This week was certainly not what I had hoped it would be. However, it helps to regard these things philosophically, accept it for what it was and move on to rectify the setbacks that may have been caused. There is one very significant silver lining that came towards the end of this week. This is that I was approached by a local company through my advertising, and am on the verge of securing a contract through my computer services start up that would deliver a fairly large chunk of money if all goes well. It will be a fair amount of work, but the reward should be worth it. As such I have finished this week feeling more positive than I may have otherwise been.

Revenues in Week 16:

Less expenses of £30.00:

Week 16 Total: £70.64

Running Total: £2814.92

For a full breakdown, see the balance sheet.
The Week Ahead: 

It is probably slightly too soon to expect any money to come in from this new contract, although I will need to give a good amount of time to that. As such I will need to continue to pursue other sources of income in addition to working on this and other projects I have ongoing. With the need to juggle all these things it could be difficult to bring in as much as I would usually expect this week. With this in mind, I will aim to make £200 in week 17. It will be a psychological boost if nothing else to break the £3,000 mark.

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  1. Catherine says:

    I like your philosophical attitude and your positive approach but make sure you work longer and harder this week to make up for last week.

  2. Brian says:

    Come on shoestring’ you can do it’ take some more risks’ love this comtract for the computer services work. Make sure you give that the time it deserves.

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