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Posts tagged as “advice”

The Worst Customer Service Advice I’ve Ever Heard

Allow me to highlight some nuggets of wrongheaded customer service-related advice that should be rejected wholeheartedly–in order to avoid damage to your cultural, organizational, and bottom-line results. Powered by WPeMatico

Snapshot of my current small business; looking for advice on how to scale

Hi all. I’d like to share the current state of my small business in hopes that those of you who have more experience may point out obvious actions I can take in attempt to expand. Started an audio engineering business on the side in 2012. It wasn’t until late 2016 that it became my full-time focus. Currently, I find clients primarily via freelance platforms, mainly Thumbtack. For local clients in need of recording, I use a local, modest studio where the owner and I have an agreement set; he currently receives $25/hr from the $55/hr I charge the client. From time to time, the studio owner gives me sessions from artists that reached out to his studio. Sessions are typically 2-4 hours, sometimes longer. For remote clients, or clients that only require post production work such as mixing and mastering, I work from home. I’m usually making $100-$400 from these projects. For corporate clients who require a more professional aesthetic and environment, I book at a very prominent studio. The studio charges anywhere from $45-$75 an hour depending on room/equipment needed. Usually these types of projects involve podcast and audio book recording. I charge $65-$125 an hour to record. I charge the same rate for the mix/master, but mix with my setup at home to maximize project profit. These projects range from $300-$2000, but the +$1000 projects don’t happen as often as I’d like. Maybe 3-4 times a year. Seems like 20% tend to be corporate clients, the rest are musicians. Dec/Jan are typically slow, but other than that I average $1200-2000 a month, which I’m fully spending on for rent and bills (both personal, and business subscriptions/hardware/software). Have not been using our website (freelance platforms have been our primary funnel). Recently updated using Wix and currently advertising via fb paid targeted ads. Creating articles every now and then to keep the site fresh and help drive traffic. For my last side business I was able to get about 1600 followers on our business page in a year. This company, which I’m finding way more success but just started advertising,…

Bills, Bills, Bills: The Best Money Management Advice for Freelancers

There are a lot of great things about freelance life. You’re your own boss, you have a flexible schedule, and you don’t have to sit in hours of meetings that could have been covered off in a quick email. But one of the primary differences is that you no longer have a set income arriving each month. It can be hard to budget and figure out if you can really afford that trip to Italy – especially now that you no longer have paid time off – when you don’t know how much money you’ll make that month. So we’ve put together some tips to help you manage your money so you can spend more time focusing on building your business (and planning for that vacation). Track your income and expenses. You might not know the exact amount you’ll make each month like you did when you were getting a regular paycheck, but if you track your income, you can at least figure out an average. Streamline the process by creating a separate bank account and credit card for your business-related income and expenses. Instead of having your income go into your personal account or joint account, pay yourself by transferring money from your business bank account to your personal one. This will also come in handy when it’s time to pay your taxes. You’ll be happy you stayed organized and don’t have to scramble to figure out exactly what you made and spent throughout the year. Pro tip: download AND CO from Fiverr to keep track of all your expenses, invoices, and time sheets all in one place. And the best part? It’s completely free!  Estimate your taxes. Speaking of taxes, the process of paying them is different when you’re a freelancer. When you have one employer, your taxes are withheld from each paycheck so you don’t have to do the math or really think about it until April. When you’re a freelancer, you have to estimate your annual and quarterly taxes. If you use a service like QuickBooks Self-Employed to track your income and expenses, it can help…

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