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proghey dudes
Money's on my mind again because Unforeseen Events caused the business to skid a little in May, and due to the latency of the billing cycle I'm weathering the financial sting of it right now. It's not like the newbie mistake I made a couple of years ago that left me with no business at all for a while, but it still smarts.
Lately, when money matters of any size injure me, I start obsessing about money and feeling bummed about how cash-poor I have often found myself. Since stepping out on my own four years ago, I seem to get into these areas a little too frequently: barely treading water, and laughing at the idea of saving. Listen: A bunch of new and nifty five-dollar computer games have recently appeared on my radar, and I haven't bought any of them, because I can't justify a five-dollar game purchase right now. That my friends is chilling.
There is a small but resolute part of me that permanently holds the position that I've had my fun, but it's time to return to the safety of the salaried life, where I can get all the five-dollar games I want and also a 401(k). It knows it's always going to get outvoted, so it doesn't press the issue. But it does make sure to clear its throat every time a situation like this comes up, and it points out the most recent six-figure recruiter email I have received. "Just putting this out there," it says. "I know you're not asking for my advice. Take it as you will. Something to consider, is all." It makes humble and placating gestures.
Meanwhile, back in the world that exists outside of my skull, June 2009 has been the accounts-receivabliest month in Appleseed's history. This was in part due to a new partnership which has worked out very well so far, and I'm fighting (but not yet struggling) through a workload logjam in order to get a regular stream of new work going in that direction. So that's good.
Today I started casting out some lines looking for more work to better suit (and allow me to keep!) this increased work-capacity. I also attended a game-lunch at a friend's workplace that somewhat unexpectedly morphed into a miniature networking thing (hi guys), and it make me think that I ought to start going to more networking events outside the games bubble, or even the (somewhat larger) software bubble. Attend the sorts of events where I can hand out my Appleseed card and really mean it, see...
As for managing my money, I hope that I have finally found a way to say goodbye to the useless pile that is Quicken. I have created an account on yodlee.com, and filled it up with all my bank, credit card, investment and personal-loan information. I'm impressed with how well it's already categorized my existing spending history. I look forward to using it for a month, after which I'll see if I can't make a more realistic budget this time. And maybe not blow $100 in overdraft fees in one week...
Money's on my mind again because Unforeseen Events caused the business to skid a little in May, and due to the latency of the billing cycle I'm weathering the financial sting of it right now. It's not like the newbie mistake I made a couple of years ago that left me with no business at all for a while, but it still smarts.
Lately, when money matters of any size injure me, I start obsessing about money and feeling bummed about how cash-poor I have often found myself. Since stepping out on my own four years ago, I seem to get into these areas a little too frequently: barely treading water, and laughing at the idea of saving. Listen: A bunch of new and nifty five-dollar computer games have recently appeared on my radar, and I haven't bought any of them, because I can't justify a five-dollar game purchase right now. That my friends is chilling.
There is a small but resolute part of me that permanently holds the position that I've had my fun, but it's time to return to the safety of the salaried life, where I can get all the five-dollar games I want and also a 401(k). It knows it's always going to get outvoted, so it doesn't press the issue. But it does make sure to clear its throat every time a situation like this comes up, and it points out the most recent six-figure recruiter email I have received. "Just putting this out there," it says. "I know you're not asking for my advice. Take it as you will. Something to consider, is all." It makes humble and placating gestures.
Meanwhile, back in the world that exists outside of my skull, June 2009 has been the accounts-receivabliest month in Appleseed's history. This was in part due to a new partnership which has worked out very well so far, and I'm fighting (but not yet struggling) through a workload logjam in order to get a regular stream of new work going in that direction. So that's good.
Today I started casting out some lines looking for more work to better suit (and allow me to keep!) this increased work-capacity. I also attended a game-lunch at a friend's workplace that somewhat unexpectedly morphed into a miniature networking thing (hi guys), and it make me think that I ought to start going to more networking events outside the games bubble, or even the (somewhat larger) software bubble. Attend the sorts of events where I can hand out my Appleseed card and really mean it, see...
As for managing my money, I hope that I have finally found a way to say goodbye to the useless pile that is Quicken. I have created an account on yodlee.com, and filled it up with all my bank, credit card, investment and personal-loan information. I'm impressed with how well it's already categorized my existing spending history. I look forward to using it for a month, after which I'll see if I can't make a more realistic budget this time. And maybe not blow $100 in overdraft fees in one week...
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no subject
Date: 2009-07-11 03:56 pm (UTC)I, too, have paid over $100 in overdraft protection fees this past week, and that was entirely my fault because I had a check to deposit but didn't make the time to do it for a couple of days. "stupid tax", as I call it.
Money management is always the land of trouble for me. I have been using MINT.COM for the last 90 days. It isn't perfect and it is really aimed at typical consumer level spending, but it does help track and point out exactly how much money you have spent in each category. I'll have to check out yodlee.
The real secret is, of course, to spend money slower than you make it. This can be hard, especially when you get some customers who don't pay you on time. I can remember several times over the years when I had in excess of $25k in solid receivables, but was rolling change for gas money and eating ramen.
Early this year, for the first time in over a decade, I had to borrow some money from a family member because I ran out of cash, but once again had a staggering amount of receivables that I was owed.
I generally have about 2 months income in receivable all of the time these days, which feels good. I am planning to take some time off in September, and I have to plan out my workload and billing correctly so that I don't end up with a cash-flow shortage at the end of the year.
I have a couple of small credit cards these days, after a decade of having no credit cards at all. I generally try to keep them paid off entirely, and use them for travel expenses and a little bit of a cushion when checks are not arriving on schedule.
I really need to spend more (well, ANY!) time marketing and looking for work. I don't even have business cards of any kind, and thus far (the last two plus years) I have obtained all of my business via word of mouth, and my biggest customers have been folks who I did work for before my own ISPland adventures started (dialmaine, acadia.net, downeast.net). I don't know how much longer my luck will hold out in that area, and I really ought to be doing something about it. But, I also billed out over 200 hours last month, and didn't have the time.
no subject
Date: 2009-07-11 04:06 pm (UTC)Have you considered hiring someone to help you with marketing?
no subject
Date: 2009-07-12 02:34 pm (UTC)I may do a direct mail (as in, hand addressed, first class stamp, personal letter) campaign to some likely targets if I think about it enough.