You don’t have to do it all 100%, 100% of the time.
In fact, if your strive to do so, you’ll lose all the joy, the fun, the pleasure…
and the profit.
I’ve watched shopkeepers drive themselves to tears (and/or cuss words they’d be ashamed to have their mothers hear) over details which really matter so little. True story: In the beginning of my shop, I would spend another half-hour or more trying to get the daily total to balance to the penny. And I am talking penny. Then one day (or late evening, actually) it come to me: it didn’t matter. If I was off 57 cents or even $3. My half hour would have been better spent on any number of things, and more joyfully spent as well.
So stop and think:
Is good enough good enough in this case?
Would that extra hour tweaking your display or your Facebook promotion really be worth it? Answer: Yes, if that’s what you like to do and have an hour to do it in. No, if there are matters more pressing that you could be doing, that would make a markedly-deeper impact on your goal. Or that simply
added to the delight you experience in owning your own shop.
For me, it was colorizing the earrings. Okay, I’m weird. But I’m guessing you have your own little weirdnesses too, and I hereby give you permission to do what’s important to you and your shop. I promise I won’t mention the dust bunnies lurking in that corner over there.
Auntie Kate The Resale Expert 
I like the research side of furniture and antiques. I have found that I know more and have to research less as the years go by. I really like the marketing side of the business and hate the bookkeeping. So I have to find a balance that works.
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Ruth, that’s GREAT. Because the most rewarding (personally and fiscally) part is research and marketing, and the EASIEST aspect of our jobs to farm out is the bookkeeping! So you get to do what you enjoy and what makes money, and some numbers-oriented person gets to do the (to you) boring stuff that will keep you on track. Just make sure your numbers person is alert to things that you need to know about fast… discrepancies, lowering income, excessive outgo…
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I usually spend too much time researching a single piece of porcelain or some another type of giftware for our store. I’m afraid that something might be worth more than I think and my consignor will be disappointed. Is it up to her to tell me if it’s price worthy?? Most often my time could be better spent!
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Linda, spending a lot of time researching pricing is a very common failure I see. Here’s something that might help: Figuring out WHEN it’s worth it: https://auntiekate.wordpress.com/2010/08/18/making-more-money-in-your-consignment-shop-or-wasting-time/
But I want to, if I may, address your comment “Is it up to her to tell me if it’s price worthy?” Well, no. Part of the job you do for your consignors is to value incoming goods. I think we can all agree that exceptionally valuable items are likely to be pointed out; but it’s not the consignor’s responsibility. As you gain experience (and we all do, even after decades in business!) in what will sell for what, when and where, pricing gets easier.
And finally: the most important time you spend IS setting prices on goods. Too low, and your consignor may not be happy (and your net profit will tank.) Too high and it won’t sell at all, making your consignor unhappier and your net profit totally disappear, along with the browsers who quickly realize that your pricing is too high for what they are willing to give.
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THANK YOU Kate – need that reassurance today !!!!!
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And every day, Fief! Seems like we have to learn that every time our shoulders get up around our ears!
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Thanks Kate, I needed that! I also spend way too much time doing things I don’t like (bookkeeping comes to mind). My business is vintage, antique and new linens so, I actually love to iron! That is part of the fun of putting out new/old merchandise for me.
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Patty, how the HECK have I missed you? Looks like another drive south is in my near future (mind if I bring my ironing with me? You can iron, I can shop…)
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oooo, can i bring my ironing toooooo?????????
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