Do you have any business tips you wish you knew when you started out?

almost 7 years ago from Ivan Bjelajac, Co-Founder @ Bien /

  • Johnny BridgesJohnny Bridges, almost 7 years ago

    Assuming that you're good at what you do, the most important thing to remember is the age old adage –

    Revenue is vanity. Profit is sanity. Cash is reality.

    You only run out of cash once, so manage your cashflow properly! Ensure that you have at least a simple one-pager contract for all work; which sets out payment terms etc. Take a deposit before you start work. Potentially offer a small discount for early payment and/or fines/interest for late payment.

    17 points