I am starting to take a new approach to blogging similar to the approach to my business, all about the power law, that total streamlining of activity, I hardly blog at all any more which means my marketing strategy is that I don’t have one, it is all just me coasting on repeat business, word of mouth and some SEO juice bringing in a handful of customers each week.
So it’s all about maintaining the bare minimum to keep the blog looking seemly, and writing conscious of the fact it may not be updated for months so it’s not good if I’m just rambling about some side project when, although very few people read the blog, we still need to think about public relations and not have a whole lot of twaddle waiting to greet those who might be interested, the main reason being is that those who care enough to look may be the ones who are forming an opinion on me and my business in regards to some future aspect.
If I keep twaddling on about redesigning the pirate website, then it’s not going to have much value for anyone wanting to learn more about my company.
Though, the best advice I can offer at the moment is really on how to maintain a business when life balance is the main outcome. At the present moment I am not striving for profits and growth, I just like enjoying my time being me, not a slave to business. I can imagine that is something that is just short to mid term scenario, I can’t help but think in future I will return to goals that will bring retirement forward, I’m just too young for that now.
So for me the most important thing is staying grounded and focused on the bare minimum the business needs to keep my bills paid and avoid any issues or disasters that will cost me time in the long run. That’s the issue, I’m loving my lifestyle now, but it nags at my conscience that there are issues unsorted.
We may need to take these seriously, look at the situation hard and say exactly what needs to be done to make sure we don’t have an issue.
First thing obviously is to look over the books. And we know what they’ll say – here’s a list of names of slow payers. Here’s a couple of grands worth of expenses and spending you hadn’t accounted for in estimation. Then what? You got bad debts.
My problem is I won’t call it a bad debt unless I’ve truly exhausted my efforts but I never exhaust my efforts.
Make a list:
need phone call follow ups:
I look at this list and I’m not ready to write these off, but I do need to stick my nose in the books and make sure I do my sums every 2 weeks at least.
The next problem is to do with getting all my bartercard work sorted out because there kind of is that $9k there.
Then am I honestly back to worrying about the pirate story site? It just seem so simple, surely there’s more to be done?
Well of course there is if you want to take a serious look at the whole picture. Remember there’s that $US1100 you cant unlock from that online account because I need my birth certificate or some such, I mean, where is that?
Remember you still havent your tax for last year, so in 6 months that will be an issue. But I still stand by the idea that there’s no point being 100% on the ball it’s too much work, I don’t want to spend my life making sure a comply with every government directive, but I am responding to fears that you can get too lax with this stuff.
Debt collecting we came very close to getting accounts receivable under control, but it’s something we really have to have the right approach to so it doesnt happen in the first place. If we wrote off the posters and the church group, that’s only $1100, their are small disputes over those two bills, and they are jobs that should never have been allowed to go ahead because there were clear warning signs which I should have recognised.
With the posters it was a dodgy middleman, with the church group it was their extreme deadline coupled with extreme technical ineptitude which should have made me say stop, money upfront. Because I think the reason they aren’t paying is because the product was inferior because they rushed the design and their master had issues, so I just patched the thing together as best I could in a day, and they weren’t happy.
If I had the money in my hand, I would be able to argue that I performed the service I was paid to do. The reality is I should never have taken the job, knowing that if one thing goes wrong there will be an issue. I needed to be absolutely clear that people only take away the
I should have been more sensible, and I can’t help but think that these days my relaxed attitude would mean I’d say look I don’t want the drama, I want my money upfront so I know that my work is being respected here.
The other thing is that bad debts happen. They do. Not everyone is honest and pays their bills. It’s just one of those things. I’m sure these aren’t the first bad debts we’ve written off this year, but the fact is in 6 years we’ve only written off about 20 debts, maybe a few more under $200 but they aren’t really issues. An issue comes up when a church group doesn’t want to pay $700 you thought you were getting.
I was trying to work out the last debt I wrote off and it was for a job september last year, so it would have taken 6 months to write off, actually I wrote it off a few months ago, and then there was vinny. Sherpa was april 2011 and the samoan academic was june, then phoenix and sky in september, gosh this doesnt feel like a year ago! And don’t forget two hearts AND the tongans! It really shows how much better we’re doing with that now.
I guess what it comes down to is an honest appraisal of your work ethic and determination and if you’re doing enough to reach your goal.
In the end I had to go to my numbers, and suss out my books and it was quite a revelation, as I knew, the list above was as it stands, however the hairdressers have paid. What was crazy was there was no hole in my personal bank account, so I had exactly the money I thought I did, except my fines and my tax and my kiwisaver has all been paid, then I looked at my credit card – I was $600 over my limit! I just assumed they would cut me off once I reached my limit, that’s why it’s a limit???
um okay. But as I said thats nothing when I account for my fines, tax and kiwisaver. All paid. So what we see is that our budgets for web and video development are virtually untouched, obviously ill pay off my credit card first and then go crazy with it.
So basically now it’s just my tax, bartercard, and that US$1100, there’s one client I have to sort out, and man wow, I won’t be getting slack but im pretty amazed this has turned out this way.