Ask Rezzz

Get your clients to payTo budget means that you need to know (or at least be relatively sure) when your clients pay you.You obviously can’t reach into their pocket and pull out the money they owe you, so there’s some trust there you need to have, but there are systems that you can use and put into place that will help you nudge and remind clients.Don’t be afraid of doing this. No business can run without money so if you are doing work, make sure you get paid.Track your expensesYou have to stay on top of your expenses. Taxes being your biggest. Remember it’s not your money, but here in the U.S. you will need to take a percentage of what you bring and put that away. Pretend it doesn’t even exist because it’s not yours anyway.Aside from that, you have to be mindful of the phrase “it’s for the business and I’ll just get more revenue in to cover this.” It’s a deadly phrase and here’s why.If you have a 20% profit margin on your services and you buy something for $100, that means you need to bring in $500 in revenue