Industrial Revolution

I bought a business on April 1, 2005. I'll update the blog a few times a week to share some of my experiences.

Thursday, September 22, 2005

misc updates

It's been a wonderful week. Here are a few highlights:
  • Our CPA/accounting system consultant started his work. He's going to help us choose a replacement for MYOB, our current "amateur" accounting system. We plan to put the new one in place on January 1, 2006.
  • Another container of ice cream balls arrived in good condition.
  • An employee quit (for the second time, don't ask). A good employee, but probably not a good fit for the company for the long term. So this is a positive development.
  • Our first four pallets of Light My Fire products arrived, also in good condition. We've filled our first two orders!
  • A separate container of ice cream balls was delivered to the Port of Hong Kong for one of our customers. This is beautiful because we bought and sold the product without ever physically touching it. It sounds easy but it's actually been quite an undertaking to work out all the logistics. Still, it's the first time we've done this so it's pretty exciting.
  • Don't tell our other customers, but we sent some balls to Walmart (well, Walmart.com). Becoming a supplier to them was its own undertaking so shipping some product is excellent! Last week a big article in the Wall Street Journal discussed how difficult it is to become a Walmart supplier. "No Walmart buyer will ever call you out of the blue," said one entrepreneur (incorrectly, as it happens). And the article explained that it takes 6-12 months to get accepted as a supplier (also incorrect...6 weeks for us). Even then, they wait with fingers crossed for their first order. Do I sound cocky? I feel cocky.
  • We installed some large new shelving in our warehouse area. That created about another 250 sqft of storage space...space we needed today as it happens!
  • I have leased an additional 5500 sqft and immediately sub-leased it to a new tenant. They've got a neat little start-up and it will be exciting to watch their progress from up close.
  • Our Light My Fire partners have agreed to work with us on a public relations campaign. That's a big win and it will make the whole system more successful.
  • and the beat goes on...

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