Comments on: The Honest Truth: Part 1 - Spending Risks http://www.businessofdesignonline.com/spending-risks/ BoDo Business of Design online Thu, 20 Nov 2008 22:10:16 +0000 http://wordpress.org/?v=2.0.9 by: Jess Sand http://www.businessofdesignonline.com/spending-risks/#comment-2355 Wed, 01 Aug 2007 19:06:26 +0000 http://www.businessofdesignonline.com/spending-risks/#comment-2355 Wow, your candor is remarkable, thanks for sharing that. Your own challenges raise two important points that studios need to consider: 1. We must always be on top of our cash flow. It behooves us - freelancers included - to understand cash flow projections and to use them. If you're not running numbers monthly at the very least, you could be setting yourself up for trouble. 2. Sometimes it's worth it hire a bookkeeper. If you're just no good at numbers, it may make sense to hire either a part time bookkeeper, or contract with a business management company (that can handle books, as well as other logistical issues). We gotta recognizes our weaknesses in order to maximize out strengths! —J. Wow, your candor is remarkable, thanks for sharing that. Your own challenges raise two important points that studios need to consider:

1. We must always be on top of our cash flow. It behooves us - freelancers included - to understand cash flow projections and to use them. If you’re not running numbers monthly at the very least, you could be setting yourself up for trouble.

2. Sometimes it’s worth it hire a bookkeeper. If you’re just no good at numbers, it may make sense to hire either a part time bookkeeper, or contract with a business management company (that can handle books, as well as other logistical issues).

We gotta recognizes our weaknesses in order to maximize out strengths!

—J.

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