Happy New Year 2021! What is that thing you've been putting off? I'm not really talking about procrastination in the traditional sense, I've been putting off some bookkeeping details all year, fortunately Casandra at Collins Bookkeeping Solutions tolerates my procrastination, and helps me to get it done when I finally get to it. No, I'm talking about putting off that life change, the dream of which brings you truly alive. Make 2021 the year you take that on; you won't regret it. Speaking of which, what is the thing that on your death bed you would regret not having done? Memento mori, "Remember that you must die."
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Black Cherry King Bed; Loren V., craftsman extraordinaire. Patience is a virtue, stacked rough cut lumber from May 4th 2018. You simply can't buy this family heirloom... "for everything else there's Mastercard."
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Primal Woods
January brings with it a lot of work with Casandra, as I mentioned above. All those receipts and little details I've been leaving undone throughout the year. Frankly it's not something I enjoy, but what I do enjoy is being able to use the clean and accurate books as a window on the business, a window which typically sheds light on a number of "problems," aka opportunities for improvement. But not today. Ha! When the work is done I'll let you know how we did in 2020 as compared to prior years, and what opportunities presented themselves.
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Detailed view of Loren's headboard. Gorgeous.
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When it comes to the projects selected for 2021, they should either create an asset, or reduce or eliminate a liability. So what are assets and liabilities? According to Rich Dad Poor Dad "an asset is something that puts money in your pocket... the reality is that unless something is putting money in your pocket, it’s not an asset." And conversely, "a liability is something that takes money out of your pocket. Common liabilities include things like cars, vacations, clothes, eating out, unused subscriptions, and more. You must learn the difference between an asset and a liability—and buy assets." I highly recommend Rich Dad Poor Dad, and if you want to teach your kids about money without lecturing them, you can't go wrong with the Rich Dad Poor Dad board game, Cash Flow; Monopoly on steroids.
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Portable Sawmill Services Getting the pictures from Loren were a real gift this holiday season; truly there is nothing more fulfilling than seeing what he as done with the rough cut Black Cherry we made. Thank you Loren!
I wrote last week about "Finished Lumber," and this week I've had a chance to reflect on what we're doing, and to better define the niche we are trying to carve out for ourselves. I would say that we want to offer to our customers a "Logs to Finished Lumber" service. That is not the sale of lumber per se; I don't want to be in the retail lumber market. Logs to Finished Lumber would include Milling, Drying and Shaping, beginning with the customer's Logs. At some point that niche might be expanded to "Trees to Finished Lumber" with the addition of a "draft animal logging" business component. Okay, so what does that mean for 2021? I think it means building out the air and kiln drying asset base to satisfy demand, and possibly dipping a toe into the "Shaping" waters. Although I can't say now what "dipping a toe" would involve, I am bouncing some ideas around in my head. It is safe to say that 2021 projects will be centered around Drying. A first step will be to put together a process flow chart for creating Finished Lumber, together with the necessary assets and processes, not unlike the Pure Maple Syrup Process Flow Chart I've been using and updating for years now.
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Top Loading Stove being considered as heat source for the north side of the Sugar House
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Pure Maple Syrup The stove pictured, or some reasonable facsimilie, will be used to heat the north side of the Sugar House in the future. This will be one of our projects for 2021. In general I think that the syrup business is well capitalized, and I don't see the need for significant investment. There is one thing that does need attention though, and that is getting a syrup confections business off the ground. We've had in mind Maple Sugar and Maple Candies for some time now, but it's down to me, I just didn't get it done in 2020. Launching the confections business is at the top of the list for 2021. I'll sketch out some possibilities and discuss with Geri in the near future.
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