As creative entrepreneurs, we’re often more caught up with making our projects turn out beautifully and pleasing our clients than with checking on our bottomline, amirite? (No, no, I mean the bottomline in your bookkeeping software, not the one in the mirror. ;) )
But the thing is, since you’ve taken the leap into entrepreneurship and are footing the bill for everything from advertising and equipment upgrades to office pens, it behooves you to pay a little attention to where your hard earned cash is going – and even more – making sure that your investments contribute to the long-term health of your business.
In other words, you should be spending some time on (I’m about to say the dirty words!) …financial planning.
After all, we plan ahead In nearly every other area of life, right? We save up for vacations (yes, even entrepreneurs should take one!), our kids’ college educations, retirement, down payments on cars and houses… heck, I know someone who saves in advance so they can buy all their kids’ Christmas and birthday gifts! All of this planning has benefits… relaxation, education, stress-free (sorta) survival…
So with all this in mind, why aren’t you planning ahead foryour big business purchases, things like, oh… I don’t know… customizable legal contracts that makes your business look more professional, helps you clearly define deliverables and terms with clients, and protects you in the event of a non-payment or a legal dispute?
Seems like a good investment to make to me!
Yes, our contract templates can be expensive (and with good reason, click here to find out what makes our templates so damned awesome), but trust me, it’s worth saving up the moola for.
“But how?!” is the big question I hear whenever I bring this topic up. My best suggestion is to start using a budgeting app to help you see where your money is going and where you can start saving.
A software like Mint, for example, lets you connect your bank accounts and easily categorize all your purchases… like tracking exactly how many Target pitstops and Starbucks latte runs you made this week.
So… what if you took your coffee money and threw it into a savings account instead, saving up for something you really need and that will have a tangible, long-lasting ROI? (You know, something like a contract template. ;) )
Luckily, The Contract Shop runs two craaaaayzee big shop sales every year because we love you and we want you to succeed. (Wanna be in the know? Sign up to get all our hot news directly in your inbox!) But we also know that investing in a contract can still represent a big chunk of change for your business… especially if you’re just starting out.
But what if you want your contract and your triple shot caramel hazelnut white chocolate latte?
Then it’s a super good idea to practice this skill of looking forward and pre-planning for your investments – regardless of when you take the all-important step toward protecting yourself legally.
What investments have you been holding off on in your business? Let me know in the comments!
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