Tips on Small Service and Consultancy Based Businesses from Small Business Accountant Sydney
Inspired by meetings with a number of small business clients over recent weeks, todays blog from small business accountant Sydney is a lesson for small service or consultancy based businesses on the growing pains and how to manage them. For individuals with talent in building websites, preparing design related work, marketing campaigns and so on the allure of starting your own business is often quite strong. Many such creatively talented people also have a keen independent streak in them and are well suited to freelancing work or being their own boss.
Freelancers, or at least the successful ones, often become swamped with work opportunities. The struggle then becomes real when they realise there are only so many hours in a day for one person to produce billable work. Do you:
It is no coincidence that I have listed the above three points in the order in which they normally happen. The struggle isn’t in the initial transition into phase one or from phase one to phase two. It is in the transition from phase two to phase three. The transition from designer, web developer and so on to a small business owner. Running a small business with fixed overheads, staff to feed and so forth creates a completely different scenario to the sole trader earning his fixed hourly rate with minimal overheads. It is also no coincidence that it’s the creative people who struggle the most. Often letting go of the creative process and hands on design work and empowering staff to do the hands on work creates a massive road block to business growth.
The key lessons for anyone in this position
For more information on how to operate and manage your small business, contact mas accountants, the original accountants the accountants for small business in Sydney.