I figured that it is time to go back and look at my original projections and compare where the business was forecasted to be at the end of the seven month mark versus how it has actually performed in this time:
Under my original limited sales growth projections scenario, my sales after seven months were forecast to be $26,777. Actual sales to date have been $17,078, or 63.7%. At first blush, this might seem discouraging, but it is actually not bad when I consider that my original projections were based on my best guess on how a number of factors would play out, such as how much traffic increase I would get from social media. I had predicted a 2% monthly increase, which is now clearly not realistic, but maybe that will change after my post volume reaches a critical mass. I honestly don't know what the payback period is supposed to be with social media and unfortunately I don't think I can place much stock in the commentary about this online because my subject matter is so specialized and is not popular culture that will have lots and lots of views. What is good about our results so far is that the sales have been highly profitable and over 200 new customer relationships have been established. The amount of inventory listed has exceeded the projections, so sales should gather momentum, which brings be to my next topic.
Have you ever played Risk? You know that world domination game with the armies and cards?