Day 2 – Best laid plans of following the money
Day Two of the 31 Day Challenge
The first of August was a Sunday, and it was very easy to spend the time getting my post ready for this challenge. Today is Monday and a day that I need to spend on fee earning tasks. As a result, this post will be much shorter.
Best laid plans and all that
I had planned to dedicate an hour to this blog post. That included writing, recording and posting. However, I had a few issues. The first was that my keyboard suddenly stopped working, and I had to figure out what was wrong. I couldn’t type the letter D. You would be surprised how often you use that letter. I discovered that another program I was using had appropriated the letter D to create a Sticky Key.
I also needed a template to create this post and with Microsoft being as good as it is, somehow there was a change to my computer system which meant the OneDrive’s synchronisation had stopped. Not only that, the icons were missing from my tool bar. This has meant that I had wasted half of my allotted time for this post on repairing that link. Come on Microsoft, let’s try to make things easy for end users.
All of this took time. That is precious time that meant I didn’t do any billable work. When working out if you should call in an expert and leave it to them there is a very simple calculation you should do:
Your hourly rate v their hourly billable rate (including VAT if necessary)
Back to Me
I run two businesses, one called www.mypavirtualservices.com and www.publishmystoires.com. If I am honest, I think of them as the same business, it’s getting administrative tasks and providing my clients with an easy way to get those tasks completed. I prefer the publishing side of my businesses as I love to provide my clients with a product they can touch, something they are proud of and can pass on to family, friends and/or making a living. With a hand on my heart, I am a massive voyeur, and I love finding out about people’s stories, their past, and how they have become the person they are today.
Tall Poppy Syndrome
Today, I must also complete my billing as it’s the first working day of the month. This is one task that I used to hate doing. I was not alone; most entrepreneurs hate billing. Often this is because of the accounts software package they use. Justifying the service or product they provide and the belief in themselves and their business. This has to be one of the hardest mindsets that an entrepreneur has to overcome. I have known some business people keeping a photo of their children on their desktop to remind them why they are working so hard.
Follow the Money
I passionately believe in the service I provide. I passionately support my clients and want the best for them, but it is akin to asking someone for money. I have a client whose life mantra is “Follow the Money” and a mantra that I have now followed.
- If your IT breaks down, you could try to fix it yourself, but work out your hourly rate to see if you are saving time and money or just being procrastinating.
- Invoicing is part of your business and a vital task, cash is king. Without it you can’t put food on the table, so invoice as soon as you can. On your invoices why not add information about another product or service you provide, it’s easier to sell to your existing customers than to find a new one.
- Be proud of your business, tell everyone.