I received several emails via linkedin the last couple of days to say happy anniversary, seems I have been running Konstrukshon for 10 years, it does not seem like it, there have been ups and downs, clients who don’t pay, site problems and time deadlines, but over all, I like working for myself, 10 years and still going.
Running your own company is something your not taught at college, I learned the hard way, and relied upon my years within practice and a large chemical company to survive, that and my membership to CIAT, without whom I don’t think I could have made it.
So for all you budding entrepreneur’s take heart, its hard work, but the end result is worth it. My best advise, get a god accountant, next make a plan, try to sort out who when and how your going to get work, money and pay your self. Next sort out your office, do not go for an expensive room somewhere, I have effectively worked out of a small bedroom for my last 10 years, all I needed was a good, fast, internet, I keep almost all of my paperwork as electronic, in fact, the biggest room taker in my office is my books.
Time management is the other biggy, here I have to be rigid, and keep to the plan, otherwise I don’t earn money, I tend to work early and finish not to late, which is the other big problem working from home and the reverse of not working, its the oh I’ll just do this and before you know it, its 10 in the evening and your in the bad books with your partner. Manage your time.
Put something away for the rainy day, big fees come in, don’t spend it all, some for you, some for the tax man and some for the unexpected, try to plan for the obvious expenditures, like your computer replacement, say every 5 years, thats how long mine seem to last. Holidays, plan well in advance, and please don’t take your laptop with you, just in case.
Thats it, a quick overview of running your business, it takes a lot more than this, believe me, but if you take one piece of advice its do it, but plan the path, you will not keep to it, but it will provide a life line to allow you to check, and if necessary, pull back inline or amend. Have fun.