The Biggest Mistake I See Self-Employed People Make

One of the first questions I ask my clients is “What do you cost to run?” I mean on a monthly basis. In round thousands. People usually tell me anything from about £1,000 to £6,000 and they mostly know, but not always. I press them. Then if it’s a little or a lot, at either end of that spectrum, I want to know why, why are you so cheap to run, why so expensive? Once we have established the ground rules, I then want to know “And how much do you want to earn?” They are different, you get that, […]

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Your Small Business, Your Money and You

One of the things I like to get into with my clients pretty quickly is how much money you need to make from your small business and how quickly. That way we can make a meaningful plan. So one of the first things I need to know is how much money do you need to make each month to pay your bills in the place in your life where you are right now. This is Goal One. This is quite distinct from how much money you would like to make in the future, that’s another goal for another day. First […]

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What’s The Best Way To Do A Simple Budget?

Get your hands on a copy of your bank statements for say the last three to six months. Analyse what you spent your money on starting with standing orders, direct debits and other types of spending from cash, to retail therapy to fun. Put this information into columns on a spreadsheet or just on an ordinary piece of paper if you prefer not to use Excel. Check your overheads first of all, especially those which are compulsory. There’s no way round paying for your rent/mortgage, electricity, gas, water, council tax, service charges (if you live in a flat) and the […]

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