If you are a freelancer or home-based business owner, home office productivity is a challenge. It’s likely that you came to freelancing from an office job and when you were daydreaming of freelancing, you may not have considered the productivity benefits of working for someone else. You worked to a schedule, were organized and accountable, because you had to be. The biggest rewards of working from home may be freedom and independence, but those enticements also have a downside: disorganization and haphazard productivity. One thing I’ve learned in my freelancing career is that you need discipline. Home office productivity, and, some might even say your business’s success, depend on discipline. Read more
Micro-business owners and freelancers often do their own bookkeeping, but knowing when to hire an accountant can prevent financial problems and heartache in the future.
From managing their business finances to marketing, freelancers and small business owners like to roll up their sleeves and pitch in. Usually, they do so out of necessity, particularly when starting a business. They may not have the financial resources to hire an accountant or financial advisor. When starting out, or if their business is small or a one-person operation, the do-it-yourself route makes sense. The side-benefit of DIY is the experience and education gained. There are times, however, when hiring an accountant or financial advisor makes sense, too. Read more
One personal trait that successful freelancers have in common is attention to detail. They pay attention to all aspects of their business, including finances. While it may seem obvious, ignoring finances or having only cursory knowledge can mean the difference between success and failure.
You don’t need a degree in finance to understand some very basic things about your freelance business’s finances. You need to care, and, you should care. Some freelancers believe that because they can count the number of monthly clients they have on two hands, know them all by name, and “have a sense” of what they earn or spend monthly, that this is enough. That casual attitude will work for awhile, but in the long run, it’s very dangerous and could lead to financial calamity. Read more
If you are like many freelancers, you probably don’t think that much about managing business finances and you may regard bookkeeping for freelancers as a necessary, but sometimes painful part of doing business. Beyond creating invoices and perhaps tracking expenses, freelancers may not understand the real value of using a bookkeeping application. It’s much more than bookkeeping.
What if I told you that doing your own bookkeeping could save you time, reduce the taxes you pay and increase profit? You might change your mind, then, because there’s something in it for you – above and beyond bookkeeping. Read more
How to be a successful freelancer is a question asked by most people when they consider leaving their day job for self-employment. When you were first considering your freelancing career, you may have dreamt of the freedom of setting your own hours, working from home or your own small office, charting the course of your business, being your own boss. These are some of the main reasons one-time “cogs in the wheel” become freelancers. It’s a good life if you can make it work then keep making it work. The key to success is knowing how to survive. Read more
If you are considering using or have already signed up for online small business accounting software, getting to know the application and its features will ensure you aren’t missing its real benefits. While you may have purchased an accounting application so you can easily do you own bookkeeping and invoicing, the real power is the insight accounting apps provide. Read more
Below is a list of common mistakes made by newbie freelancers (and many seasoned freelancers) that small business accounting software can help remedy. “Come on! Really?”, you might be thinking. “I’m a freelancer. I don’t need accounting software and how can accounting software ‘solve’ anything?”. Anything you can do to take control of business finances will “help solve” the common mistakes we’re about to delve into. Read more
If you are self-employed or run a micro-business, you can easily become obsessed with finding new customers. It’s natural, particularly when starting your self-employment career, to brainstorm all the ways you can attract new clients. Clients, after all, are the life blood of your business. Without them, you’ll be shutting your doors and heading back to a day job. Read more
When people consider starting a home business, they may not realize that the first step in achieving their dream is to have explicitly stated goals (a plan) and then slowly working toward them. One goal in your list of home business goals, should be the date you want to begin working from home full time. If you think that you’ll just quit your job and start your new work at home life, you’re probably mistaken. Very few home-based workers have the means to cut the safety line of their day job income and jump into the deep end. You’d be well advised to touch your toes in the water first then wade in the shallow end for awhile before making a splash in the deep end. Read more
If you are considering starting a home-based business, the following tips will help your venture survive and thrive.
1) Start small
The mistake some home-based business owners make when they start out is trying to grow too fast. Growth costs money. At first, you may have to make-do with less. You may have to live with your less than perfect office setup, an older but perfectly good desktop and laptop and the like. Starting your business on a shoestring budget and having the willingness to make do with what you have takes discipline. If you start your business, buy the latest desktop and laptop, purchase all new office furnishings and pay for advertising, you’ll chew through profit. While many of these items will be deductible come tax time, if your income is variable (and it often is when starting a home business), you’ll have cash flow problems that can quickly escalate and make it impossible to make ends meet. Read more
- Home Business Management Tips and Resources October 12, 2017
- 6 Reasons to Do Your Own Bookkeeping October 5, 2017
- A Bill Tracker Could Save Your Small Business October 4, 2017
- Tracking Sales Tax for Your Small Businesses or Freelance Business September 29, 2017
- 5 Things You Can Do Now to Increase Home Office Productivity September 28, 2017