A New Year, a New Opportunity

Good bye and good riddance to 2009. I don't regret having to endure calendar year 2009 but I am sure glad it is over.

2009 was both challenging and rewarding and, while financially difficult, it has been a year of learning and building for PGS, creating a much more secure business. I still have a lot of learning to do to understand why I was hit so hard by the current recession. It is so easy to just say "we have had a hard time because we are in a recession" but that is only partially true and does nothing to help move us forward. I really believe that a good business plan adapts to conditions rapidly and finds new opportunities in challenging economic times, foregoing the big financial hits. It took longer than it should have for PGS to adapt and find these new opportunities causing me to think that some revisions to the business plan are in order.

Things really have improved considerably over the past 5 to 6 months for the business. We are working with a reduced staff but easily keeping everyone busy and chargeable. Profits are still really meager and I need to do more to reduce operating expenses and to improve revenue generation. At this point I am really optimistic about the upcoming year but very cautious at the same time. That is the great thing about the New Year, it gives us hope and a whole new year of opportunities.

And I'm ready for it!

2009 was such a challenging year on so many levels and it is a wonder I came through mentally as well as I did. I don't even think I developed any new ulcers from all of the stress. Here's a quick recap;

• The worst financial year since starting the business…. Let's just say that I don't have to worry about an income tax this year.
  
• Investment portfolio was a complete disaster…. The losses would make a nice deduction on my income, if I needed it, which I don't.
  
• Constructed the mega-home 'El Edmonds Castillo' in the midst of my financial collapse.
  
• Did a full remodel of the Lynnwood home to prepare it to sell for far less than it was worth a year ago without the remodel.
  
• I am boatless in Seattle because I sold Allegro, my sailboat and refuge from reality, to reduce my monthly expenses.
  

On the other hand there were many very positive aspects to the past year and, in some ways, it has been one of my most productive years. Here's a little recap of the positives:

• It is 2010 and I am not bankrupt.
  
• PGS has actually been profitable since August, albeit on a very meager basis.
  
• PGS has developed relationships with some fantastic new clients.
  
• PGS has entered 2010 with the largest backlog of work in the past 2 years.
  
• My investment portfolio still has 'some' money in it and it is slowly getting better.
  
• I completed the construction of 'El Edmonds Castillo' and now live in an absolutely fabulous home with a view to die for.
  
• The bank may even be convinced to convert my construction loan to an actual mortgage on the new home.
  
• I got to do some really fun exploring via motorcycle travels.
  
• I am married to the love of my life…. And have been for over 30 years…. And she still likes me!
  
• It is 2010 and I am not bankrupt!
  

2010! And I am ready for the voyage. I will not allow this year to be negative and I will not dwell on my past failures. What a wonderful, privileged life I have been afforded. 2010, one more chance to get it right!!!

Happy New Year and cheers to all!