How lean is your business?
Do you run a tight ship, or do you keep spending money in your business?
Running a lean business is key, whatever size business you are. Overspending is a sure fire way to have you go out of business. 60% of UK small businesses fail in their first 5 years, and you don’t want to be one of them.
Examples of how to keep your business lean:
- Employ freelance staff where you can, rather than employ them, until you are sure you can keep them on the payroll permanently. Employing people can work out cheaper in the long run but only if you can guarantee work. Freelance can be more flexible.
- Make sure your marketing costs have a sold return on investment (ROI). For example, if you are going to do Facebook ads, make sure this is factored in when you are looking at how much your offer is. If you spend thousands on ads and are only selling hundreds in services, it’s not worth it.
- Don’t have anything on...
My First Podcast
I’m on a podcast! My very first one! Can you tell I’m excited?
This week I’m a guest on Emma Ward’s “The Freelancer’s Teabreak” which I’m really excited about! I have never been on a podcast and I love listening to one when I’m out and about.
I thought it would be stressful to appear on a podcast, and was really nervous, but Emma put me at ease and we just chatted, so I forgot we were recording. We talked all things numbers and had a bit of a rant about prices on websites (spoiler alert: we are both of the view that they should be there!)
Click here to listen or search for “The Freelancer’s Teabreak” wherever you get your podcasts.
I believe it is so critical to know your numbers, and many people start out as freelancers with no skill in this area. I don’t think you can run your business properly without really knowing your numbers, so I...
