The solution to a cash flow problem is often right at your fingertips. Fear and concern can keep us from piecing together answers that can make a significant difference. When cash-strapped clients call for a session, we turn over a few stones that are damming up their cash flow and often resolve the immediate problem with a few simple changes or action steps.
Some common oversights and mistakes made by business owners are directly related to a lack of confidence or self worth. Some are related to a fear of looking at, and understanding, their numbers and some are simply due to lack of experience or knowledge. If you identify with any of these roadblocks reach out to someone who can help so you can put yourself firmly in the driver’s seat. Here are a few ideas that might just get the cash flowing and profits moving.
Review your accounts receivable (AR) – Who owes you money? How long have these outstanding invoices been on the books and what are you doing to collect them? The longer you allow these invoices to remain unpaid the less chance you have of collecting on them. Small business owners are often afraid to “get too pushy” for fear of jeopardizing future business. Ask yourself if you really want to do business with someone who doesn’t value your services enough to pay you on a timely basis. Ask yourself if YOU value your services and how these outstanding invoices reflect on your own values. Remember, the efforts that you put into collections could be put toward marketing instead. But meanwhile, make some phone calls, send letters and, if necessary, have an attorney draft a letter for you and nudge the late pays into action.
Review your terms - What are the terms that you apply to your sales? Do your clients pay you upfront? Do they pay a portion in advance and have 30, 60 or 90 days to pay the balance? I once worked with a client who provided a service in the wedding industry. She collected 30% at the time the order was placed and the remaining balance on the wedding day. We changed her collection terms to 1/3rd upon booking, 1/3rd 30 days prior to the event and the 1/3rd on the day of the event. This simple adjustment really loosened things up for her and gave her a safety net.
Charge your worth – Okay, here’s the real issue for many soloists. Wow! I can’t count the times that I have heard people say they haven’t raised their fees in 10 years or that they feel sorry for people who can’t afford their services. There is nothing wrong with a little pro bono work, for sure, but please don’t end up in the poor house to compensate for someone else’s financial concerns. If you do offer a reduction in fees or product cost communicate the terms clearly and make sure it’s not to your own detriment. Also, do a little competitive analysis by researching services and products similar to yours to see what the going rates are. Do you hear yourself making excuses to support your decision to charge lower rates? If so, talk to your accountant, coach, mentor or advisory board to gain perspective. Unless you are submitting RFP’s for government contracts the lowest bid doesn’t always win. Re-evaluate your pricing and make sure you are valuing your services and products as much as you hope that your clients will.
Evaluate your expenses – Another common cash flow issue is created by excess spending. For example, do you have contractors that you send jobs to because you want to keep them happy? We know that outsourcing is a priority so that your time is free to build your business, but if this is done to excess during a low revenue point it can backfire. I often hear concerns like, “Janie has been doing work for me for years and I can’t cut down on her hours.” Yes, it’s difficult when you feel responsible for a portion of someone else’s income, but in the long run these temporary cuts will keep you in the black long enough to rebuild and move forward in a stronger position so that you can resume sending work their way.
In this down economy, some soloists are holding on to office space that may no longer be necessary. If you need to make cuts like this, look for the advantages and give yourself a timeframe to work within. If you have a plan that you believe will turn things around, schedule a date to reevaluate your spending. It’s easy to get caught up in the “what if’s” when we are making decisions like letting go of an office. What if things turn around? What if my clients find out? Make a list of your pros and cons and understand your financial limits. Removing the stress of added expenses will help you to focus more clearly on solutions and growing your business.
Where have you found money in your business? Is there anything you are procrastinating on? What solutions have worked for you? Share them here on Successful Soloist!
Jonathan Daniel/Getty Images
The latest name spinning on the pinstripe rumor mill is five-time All-Star and 10-time Gold Glove winner Andruw Jones.
Don’t get excited just yet Yankee fans, as Jones is far cry from the star he once was as an Atlanta Brave.
Currently, Jones is a 33-year-old, washed-up center-fielder who sat atop the most elite of hitters list from 1997-2007.
Since leaving Atlanta at the end of the 2007 season, Jones signed a two-year, $36.2 million dollar contract with the Los Angeles Dodgers.
After batting .158 with three home runs, 14 RBI and 72 strikeouts in 209 at-bats, Jones was released after his first season. Jones only played in 75 games, as he had season-ending knee surgery.
The Rangers signed Jones to a minor-league deal in 2009, where he hit 17 home runs and 43 RBI in 82 games and finished with a .214 batting average.
Next up, the Chicago White Sox took a chance, as Jones posted a .230 batting average, with 19 home runs and 48 RBI in 107 games.
I think the scariest stat is that in Jones’ last three seasons, he has struck out 221 times in his 768 at-bats. That translates into a strikeout every fourth time Jones records an official at-bat.
This is another desperate stretch by GM Brian Cashman to add a cheap player who could be motivated back to greatness on the Yankees.
Jones is still at an age where he could be darn good, as he is younger than both Derek Jeter, Alex Rodriguez and numerous other players who are still thriving.
This means it’s attitude, not skill, that tripped up Jones, and that is much worse because he didn’t care to work anymore.
Look, it is never a good sign when a team pays a player to leave, especially one with Jones’ unspoiled history of 10 years with 25+ home runs.
Cashman keeps telling Yankee fans to be "patient," but this is just another stupid attempt with minimal hopes to save his own ass.
Now, the New York Yankees have successfully been tied to every known name free agent in this whirlwind of a failed offseason.
What boggles my mind is why the Yankees have not signed the league's best closer from 2010, Rafael Soriano, yet.
If Cashman claims he won’t give up the draft pick for Soriano, I guess the Yankee motto of “winning now” is no longer the theme.
Well, might as well lose another big-time arm because of the cost, but if Cashman thinks Jones or Colon will turn to gold, he needs to get his head checked.
The Yankees have the money, so what the hell is the problem? Not getting a free agent for fear of losing a draft pick surely doesn't sound like the Cashman I have known. Must be Hal and Hank making a business decision again without thinking.
All I can say to Brian Cashman and company is this: We Yankee fans still want to win in 2011, so why don’t you?
bench craft company
House Unexpectedly Defeats Patriot Act - FoxNews.com
It was the Congressional version of never count your chickens before they're hatched.
EU PlayStation Store update 9th Feb PlayStation 3 <b>News</b> - Page 1 <b>...</b>
Read our PlayStation 3 news of EU PlayStation Store update 9th Feb.
Raven's James Bond now 20 months old? <b>News</b> - Page 1 | Eurogamer.net
Read our news of Raven's James Bond now 20 months old?.
bench craft company
The solution to a cash flow problem is often right at your fingertips. Fear and concern can keep us from piecing together answers that can make a significant difference. When cash-strapped clients call for a session, we turn over a few stones that are damming up their cash flow and often resolve the immediate problem with a few simple changes or action steps.
Some common oversights and mistakes made by business owners are directly related to a lack of confidence or self worth. Some are related to a fear of looking at, and understanding, their numbers and some are simply due to lack of experience or knowledge. If you identify with any of these roadblocks reach out to someone who can help so you can put yourself firmly in the driver’s seat. Here are a few ideas that might just get the cash flowing and profits moving.
Review your accounts receivable (AR) – Who owes you money? How long have these outstanding invoices been on the books and what are you doing to collect them? The longer you allow these invoices to remain unpaid the less chance you have of collecting on them. Small business owners are often afraid to “get too pushy” for fear of jeopardizing future business. Ask yourself if you really want to do business with someone who doesn’t value your services enough to pay you on a timely basis. Ask yourself if YOU value your services and how these outstanding invoices reflect on your own values. Remember, the efforts that you put into collections could be put toward marketing instead. But meanwhile, make some phone calls, send letters and, if necessary, have an attorney draft a letter for you and nudge the late pays into action.
Review your terms - What are the terms that you apply to your sales? Do your clients pay you upfront? Do they pay a portion in advance and have 30, 60 or 90 days to pay the balance? I once worked with a client who provided a service in the wedding industry. She collected 30% at the time the order was placed and the remaining balance on the wedding day. We changed her collection terms to 1/3rd upon booking, 1/3rd 30 days prior to the event and the 1/3rd on the day of the event. This simple adjustment really loosened things up for her and gave her a safety net.
Charge your worth – Okay, here’s the real issue for many soloists. Wow! I can’t count the times that I have heard people say they haven’t raised their fees in 10 years or that they feel sorry for people who can’t afford their services. There is nothing wrong with a little pro bono work, for sure, but please don’t end up in the poor house to compensate for someone else’s financial concerns. If you do offer a reduction in fees or product cost communicate the terms clearly and make sure it’s not to your own detriment. Also, do a little competitive analysis by researching services and products similar to yours to see what the going rates are. Do you hear yourself making excuses to support your decision to charge lower rates? If so, talk to your accountant, coach, mentor or advisory board to gain perspective. Unless you are submitting RFP’s for government contracts the lowest bid doesn’t always win. Re-evaluate your pricing and make sure you are valuing your services and products as much as you hope that your clients will.
Evaluate your expenses – Another common cash flow issue is created by excess spending. For example, do you have contractors that you send jobs to because you want to keep them happy? We know that outsourcing is a priority so that your time is free to build your business, but if this is done to excess during a low revenue point it can backfire. I often hear concerns like, “Janie has been doing work for me for years and I can’t cut down on her hours.” Yes, it’s difficult when you feel responsible for a portion of someone else’s income, but in the long run these temporary cuts will keep you in the black long enough to rebuild and move forward in a stronger position so that you can resume sending work their way.
In this down economy, some soloists are holding on to office space that may no longer be necessary. If you need to make cuts like this, look for the advantages and give yourself a timeframe to work within. If you have a plan that you believe will turn things around, schedule a date to reevaluate your spending. It’s easy to get caught up in the “what if’s” when we are making decisions like letting go of an office. What if things turn around? What if my clients find out? Make a list of your pros and cons and understand your financial limits. Removing the stress of added expenses will help you to focus more clearly on solutions and growing your business.
Where have you found money in your business? Is there anything you are procrastinating on? What solutions have worked for you? Share them here on Successful Soloist!
Jonathan Daniel/Getty Images
The latest name spinning on the pinstripe rumor mill is five-time All-Star and 10-time Gold Glove winner Andruw Jones.
Don’t get excited just yet Yankee fans, as Jones is far cry from the star he once was as an Atlanta Brave.
Currently, Jones is a 33-year-old, washed-up center-fielder who sat atop the most elite of hitters list from 1997-2007.
Since leaving Atlanta at the end of the 2007 season, Jones signed a two-year, $36.2 million dollar contract with the Los Angeles Dodgers.
After batting .158 with three home runs, 14 RBI and 72 strikeouts in 209 at-bats, Jones was released after his first season. Jones only played in 75 games, as he had season-ending knee surgery.
The Rangers signed Jones to a minor-league deal in 2009, where he hit 17 home runs and 43 RBI in 82 games and finished with a .214 batting average.
Next up, the Chicago White Sox took a chance, as Jones posted a .230 batting average, with 19 home runs and 48 RBI in 107 games.
I think the scariest stat is that in Jones’ last three seasons, he has struck out 221 times in his 768 at-bats. That translates into a strikeout every fourth time Jones records an official at-bat.
This is another desperate stretch by GM Brian Cashman to add a cheap player who could be motivated back to greatness on the Yankees.
Jones is still at an age where he could be darn good, as he is younger than both Derek Jeter, Alex Rodriguez and numerous other players who are still thriving.
This means it’s attitude, not skill, that tripped up Jones, and that is much worse because he didn’t care to work anymore.
Look, it is never a good sign when a team pays a player to leave, especially one with Jones’ unspoiled history of 10 years with 25+ home runs.
Cashman keeps telling Yankee fans to be "patient," but this is just another stupid attempt with minimal hopes to save his own ass.
Now, the New York Yankees have successfully been tied to every known name free agent in this whirlwind of a failed offseason.
What boggles my mind is why the Yankees have not signed the league's best closer from 2010, Rafael Soriano, yet.
If Cashman claims he won’t give up the draft pick for Soriano, I guess the Yankee motto of “winning now” is no longer the theme.
Well, might as well lose another big-time arm because of the cost, but if Cashman thinks Jones or Colon will turn to gold, he needs to get his head checked.
The Yankees have the money, so what the hell is the problem? Not getting a free agent for fear of losing a draft pick surely doesn't sound like the Cashman I have known. Must be Hal and Hank making a business decision again without thinking.
All I can say to Brian Cashman and company is this: We Yankee fans still want to win in 2011, so why don’t you?
bench craft company>
House Unexpectedly Defeats Patriot Act - FoxNews.com
It was the Congressional version of never count your chickens before they're hatched.
EU PlayStation Store update 9th Feb PlayStation 3 <b>News</b> - Page 1 <b>...</b>
Read our PlayStation 3 news of EU PlayStation Store update 9th Feb.
Raven's James Bond now 20 months old? <b>News</b> - Page 1 | Eurogamer.net
Read our news of Raven's James Bond now 20 months old?.
bench craft company
[reefeed]
bench craft company
bench craft company
House Unexpectedly Defeats Patriot Act - FoxNews.com
It was the Congressional version of never count your chickens before they're hatched.
EU PlayStation Store update 9th Feb PlayStation 3 <b>News</b> - Page 1 <b>...</b>
Read our PlayStation 3 news of EU PlayStation Store update 9th Feb.
Raven's James Bond now 20 months old? <b>News</b> - Page 1 | Eurogamer.net
Read our news of Raven's James Bond now 20 months old?.
bench craft company
The solution to a cash flow problem is often right at your fingertips. Fear and concern can keep us from piecing together answers that can make a significant difference. When cash-strapped clients call for a session, we turn over a few stones that are damming up their cash flow and often resolve the immediate problem with a few simple changes or action steps.
Some common oversights and mistakes made by business owners are directly related to a lack of confidence or self worth. Some are related to a fear of looking at, and understanding, their numbers and some are simply due to lack of experience or knowledge. If you identify with any of these roadblocks reach out to someone who can help so you can put yourself firmly in the driver’s seat. Here are a few ideas that might just get the cash flowing and profits moving.
Review your accounts receivable (AR) – Who owes you money? How long have these outstanding invoices been on the books and what are you doing to collect them? The longer you allow these invoices to remain unpaid the less chance you have of collecting on them. Small business owners are often afraid to “get too pushy” for fear of jeopardizing future business. Ask yourself if you really want to do business with someone who doesn’t value your services enough to pay you on a timely basis. Ask yourself if YOU value your services and how these outstanding invoices reflect on your own values. Remember, the efforts that you put into collections could be put toward marketing instead. But meanwhile, make some phone calls, send letters and, if necessary, have an attorney draft a letter for you and nudge the late pays into action.
Review your terms - What are the terms that you apply to your sales? Do your clients pay you upfront? Do they pay a portion in advance and have 30, 60 or 90 days to pay the balance? I once worked with a client who provided a service in the wedding industry. She collected 30% at the time the order was placed and the remaining balance on the wedding day. We changed her collection terms to 1/3rd upon booking, 1/3rd 30 days prior to the event and the 1/3rd on the day of the event. This simple adjustment really loosened things up for her and gave her a safety net.
Charge your worth – Okay, here’s the real issue for many soloists. Wow! I can’t count the times that I have heard people say they haven’t raised their fees in 10 years or that they feel sorry for people who can’t afford their services. There is nothing wrong with a little pro bono work, for sure, but please don’t end up in the poor house to compensate for someone else’s financial concerns. If you do offer a reduction in fees or product cost communicate the terms clearly and make sure it’s not to your own detriment. Also, do a little competitive analysis by researching services and products similar to yours to see what the going rates are. Do you hear yourself making excuses to support your decision to charge lower rates? If so, talk to your accountant, coach, mentor or advisory board to gain perspective. Unless you are submitting RFP’s for government contracts the lowest bid doesn’t always win. Re-evaluate your pricing and make sure you are valuing your services and products as much as you hope that your clients will.
Evaluate your expenses – Another common cash flow issue is created by excess spending. For example, do you have contractors that you send jobs to because you want to keep them happy? We know that outsourcing is a priority so that your time is free to build your business, but if this is done to excess during a low revenue point it can backfire. I often hear concerns like, “Janie has been doing work for me for years and I can’t cut down on her hours.” Yes, it’s difficult when you feel responsible for a portion of someone else’s income, but in the long run these temporary cuts will keep you in the black long enough to rebuild and move forward in a stronger position so that you can resume sending work their way.
In this down economy, some soloists are holding on to office space that may no longer be necessary. If you need to make cuts like this, look for the advantages and give yourself a timeframe to work within. If you have a plan that you believe will turn things around, schedule a date to reevaluate your spending. It’s easy to get caught up in the “what if’s” when we are making decisions like letting go of an office. What if things turn around? What if my clients find out? Make a list of your pros and cons and understand your financial limits. Removing the stress of added expenses will help you to focus more clearly on solutions and growing your business.
Where have you found money in your business? Is there anything you are procrastinating on? What solutions have worked for you? Share them here on Successful Soloist!
Jonathan Daniel/Getty Images
The latest name spinning on the pinstripe rumor mill is five-time All-Star and 10-time Gold Glove winner Andruw Jones.
Don’t get excited just yet Yankee fans, as Jones is far cry from the star he once was as an Atlanta Brave.
Currently, Jones is a 33-year-old, washed-up center-fielder who sat atop the most elite of hitters list from 1997-2007.
Since leaving Atlanta at the end of the 2007 season, Jones signed a two-year, $36.2 million dollar contract with the Los Angeles Dodgers.
After batting .158 with three home runs, 14 RBI and 72 strikeouts in 209 at-bats, Jones was released after his first season. Jones only played in 75 games, as he had season-ending knee surgery.
The Rangers signed Jones to a minor-league deal in 2009, where he hit 17 home runs and 43 RBI in 82 games and finished with a .214 batting average.
Next up, the Chicago White Sox took a chance, as Jones posted a .230 batting average, with 19 home runs and 48 RBI in 107 games.
I think the scariest stat is that in Jones’ last three seasons, he has struck out 221 times in his 768 at-bats. That translates into a strikeout every fourth time Jones records an official at-bat.
This is another desperate stretch by GM Brian Cashman to add a cheap player who could be motivated back to greatness on the Yankees.
Jones is still at an age where he could be darn good, as he is younger than both Derek Jeter, Alex Rodriguez and numerous other players who are still thriving.
This means it’s attitude, not skill, that tripped up Jones, and that is much worse because he didn’t care to work anymore.
Look, it is never a good sign when a team pays a player to leave, especially one with Jones’ unspoiled history of 10 years with 25+ home runs.
Cashman keeps telling Yankee fans to be "patient," but this is just another stupid attempt with minimal hopes to save his own ass.
Now, the New York Yankees have successfully been tied to every known name free agent in this whirlwind of a failed offseason.
What boggles my mind is why the Yankees have not signed the league's best closer from 2010, Rafael Soriano, yet.
If Cashman claims he won’t give up the draft pick for Soriano, I guess the Yankee motto of “winning now” is no longer the theme.
Well, might as well lose another big-time arm because of the cost, but if Cashman thinks Jones or Colon will turn to gold, he needs to get his head checked.
The Yankees have the money, so what the hell is the problem? Not getting a free agent for fear of losing a draft pick surely doesn't sound like the Cashman I have known. Must be Hal and Hank making a business decision again without thinking.
All I can say to Brian Cashman and company is this: We Yankee fans still want to win in 2011, so why don’t you?
bench craft company
bench craft company
House Unexpectedly Defeats Patriot Act - FoxNews.com
It was the Congressional version of never count your chickens before they're hatched.
EU PlayStation Store update 9th Feb PlayStation 3 <b>News</b> - Page 1 <b>...</b>
Read our PlayStation 3 news of EU PlayStation Store update 9th Feb.
Raven's James Bond now 20 months old? <b>News</b> - Page 1 | Eurogamer.net
Read our news of Raven's James Bond now 20 months old?.
bench craft company
bench craft company
House Unexpectedly Defeats Patriot Act - FoxNews.com
It was the Congressional version of never count your chickens before they're hatched.
EU PlayStation Store update 9th Feb PlayStation 3 <b>News</b> - Page 1 <b>...</b>
Read our PlayStation 3 news of EU PlayStation Store update 9th Feb.
Raven's James Bond now 20 months old? <b>News</b> - Page 1 | Eurogamer.net
Read our news of Raven's James Bond now 20 months old?.
bench craft company
House Unexpectedly Defeats Patriot Act - FoxNews.com
It was the Congressional version of never count your chickens before they're hatched.
EU PlayStation Store update 9th Feb PlayStation 3 <b>News</b> - Page 1 <b>...</b>
Read our PlayStation 3 news of EU PlayStation Store update 9th Feb.
Raven's James Bond now 20 months old? <b>News</b> - Page 1 | Eurogamer.net
Read our news of Raven's James Bond now 20 months old?.
bench craft company
House Unexpectedly Defeats Patriot Act - FoxNews.com
It was the Congressional version of never count your chickens before they're hatched.
EU PlayStation Store update 9th Feb PlayStation 3 <b>News</b> - Page 1 <b>...</b>
Read our PlayStation 3 news of EU PlayStation Store update 9th Feb.
Raven's James Bond now 20 months old? <b>News</b> - Page 1 | Eurogamer.net
Read our news of Raven's James Bond now 20 months old?.
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bench craft company
bench craft company
bench craft company
House Unexpectedly Defeats Patriot Act - FoxNews.com
It was the Congressional version of never count your chickens before they're hatched.
EU PlayStation Store update 9th Feb PlayStation 3 <b>News</b> - Page 1 <b>...</b>
Read our PlayStation 3 news of EU PlayStation Store update 9th Feb.
Raven's James Bond now 20 months old? <b>News</b> - Page 1 | Eurogamer.net
Read our news of Raven's James Bond now 20 months old?.
bench craft company
Making money from home is most if not all peoples dreams. Making money from home allows you to be more flexible and possibly to even follow you dreams. SO....how do you make money from home- below are a few tips and pointers to get you started.
1. DO YOUR RESEARCH - Decide what you want to do any why. There is no point in going into working from home blind, its better to do as much research as you can before you get started, and this way you will be able to establish what you want to do, why and where the markets lie, what they want and so on.
2. Research and find out about those schemes and scams that you don't want to wastes your time, energy or money on. So get up n them now before you waste or lose any money or time.
3. HAVE A PLAN - Working from home may sound all good and well but to be honest you need to have a plan in place, be it a business plan, a daily plan or a plan about where you want to go, regardless of what it is you need a plan to help guide you through what you want to do and why. Remember the old age saying that If you fail to plan then you plan for failure.
4. Get networking. Making money from home will be much easier if you can talk to people who have done it or are doing it now. So why not check out what online and offline networking opportunities there are out there that you could take advantage off.
5. BE PREPARED - I cannot stress this enough, BUT you must be totally prepared for nay and every hurdle that you come across. You will more than likely be competiting against other individuals, businesses and so on so you need to be prepared at each and every opportunity so you can seize it, take advantage of it and make money out of it.
6. Don't fall foul to the get rich quick group. When starting to working from home, or look for work from home then please remember not to fall foul of those pesky and annoying get rich quick schemes that promise you fame and fortune overnight for doing nothing. Please do not waste any of your time, energy or effort. Just remember that if it looks to good too be true it more than likely is.
I hope that you have found this article both helpful and useful. Good luck with making money from home and earning extra income from home. It is possible to make money from home with the right ideas and opportunities, just please do not expect to become an overnight millionaire without putting the work in.
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