I’m writing 4 weeks into COVID-19 and I’m doing okay financially. When the virus hit, I did a quick tabulation of what I had in the bank (business, personal, savings) and realized I could cover myself for the duration.

It took me many years to figure out how to save money for my personal goals and projects (travel, etc.). Ever-so-slowly I began to sock money away, starting with paying myself a salary and opening a high-interest savings account. I am not a shopper and I live simply. My only debt is my car lease. I figured out how to sell and price jobs using multiple employees for multiple days; I do my best to maintain a decent profit margin. I invest a percentage of time and resources in memberships, marketing, and education. I keep personal expenses low, and business expenses are paid as I go.

I started A Clear Path 11 years ago after I was laid off as a director at UCLA. It was 2008 and the beginning of a recession, and I was about to turn 50 years old. I had some savings, though not much, and I was fortunate to live in a campus apartment with my best friend, so the rent was really low.

A Clear Path was born in that little apartment. Within 2 months of my lay-off, I rode my bike all around campus connecting with friends and colleagues to tell them about my new Organizing business. I created ways to encourage them to hire me to declutter and organize various campus entities, and it worked. I invented “Clear the Path” day – closing down the Alumni Association for the day to lead their team in a large decluttering session. The campus Department of Transportation also got a Clear Path make-over. I was charging what I thought my newly made-up business – and the market – could bear.

I scoured the internet looking for every $10 and $20 network breakfast, and then I suited up and showed up, shook hands and perfected my elevator pitch. In those first two years, I recognized that I wasn’t going to bring in serious money if I continued as a solopreneur, to do the work by myself. I took a leap and hired someone to work with/for me. Serious money would allow me to save for retirement, take great vacations, and invest in rental property. I feel very lucky that from the onset of starting A Clear Path, I recognized that our work is hugely valuable to a broad swath of humanity – cradle-to-grave, womb-to-tomb.

At the end of 2009, I placed my first ad on CraigsList looking for an assistant. Mary joined me and is with me today. I began engaging clients with the benefits of working with two Organizers. I placed more ads and hired more sub-contractors. At the end of year two, I was fully self-reliant in supporting my company, as it was growing, even despite the recession.

It’s not hard to think of the early years of my company given our current cauldron of chaos and anxiety. In 2008, as now, we had no idea when we would see the end to the madness. Then, as now, we had no understanding of the long-term effects of this crisis. Then, as now, I had no clue how to move forward as a business owner; I just knew I had to. Out of the financial crisis of 2008, I became successful because I wouldn’t give myself a chance to fail (I had to eat!), which helped cut through much of the fear and uncertainty. The fact that I did it once gives me confidence in my resilience now to face this uncertain time.

I have 12 employees and, no, they don’t all work full time. When COVID-19 hit, I scrambled to give everyone a temporary lay-off notice so they could collect unemployment. And then I hustled. I sent out a newsletter announcing virtual organizing services and told business owners I would host Zoom sessions for free to help their employees settle into their new home/workspace.

I think about how I’m going to meet my financial goals this year. At this point, four weeks into COVID, I still believe it’s possible because I have great employees and I bid jobs with a decent profit margin. When all is said and done, my profit margin is 17% which I divide into 3 buckets – personal taxes, personal savings, employer-side 401(k) – in an online saving account at 1.9% interest. I keep expenses low and pay as I go.

Some Organizer friends asked me to talk with them about how to save money. Another friend thought I should write this blog. It’s like we tell our clients, “Envision what you want the space to look and feel”. I’m a single, 61-year-old woman who envisions a life where I can thrive, and save for a rainy day or global pandemic. What do you envision?

Regina F. Lark. Ph.D., CPO
regina@aclearpath.net
www.aclearpath.net

About the Author:

Dr. Regina Lark is the founder and owner of A Clear Path: Professional Organizing and Productivity. Regina earned a Ph.D. in U.S. Women’s History from the University of Southern California then worked with the UCLA Women’s Studies program. In 2008 she left higher education to start A Clear Path.

Regina is a Certified Professional Organizer (CPO) and a Certified Professional Organizer in Chronic Disorganization (CPO-CD). She is a graduate of the Organizer Coach Foundation Training Program, and is a Professional Member of the National Speakers’ Association.

Regina specializes in working with chronic disorganization, ADHD, and hoarding, and is a relocation expert, helping families upsize or downsize from one home to the next. She is a speaker and trainer on issues ranging from hoarding, time management and productivity, women’s leadership, and the power of positive thinking.