It's really easy as a business owner to get so wrapped up with your clients work that you actually forget about your own business. Starting up on your own is really exciting and full of promise but if you're not careful the business can soon take over your life, exhaust you and worse still, if you take your eye off the ball, financially ruin you. Poor cash flow is a renowned small business killer.
Here are 5 tips to keep you on track
1. Work out your Figures
You need to be clear exactly how much your overheads are and ensure the prices your are charging to your clients are inline to make you a profit. Produce a spreadsheet, write down all your overheads and look at your prices. Have you included ALL your overheads? Here's a biggy - REVIEW. Review your prices and overheads at least quarterly.
2. Check Your Bank Statement
Are you paying out for something you don't use anymore. Check your bank statements for regular outgoings and cancel anything that isn't adding value to your business.
2. Give Yourself a Break and Get Some Exercise
You're in charge now. Alter your mindset. Unless you have a shop or office that opens and closes at set times, forget 9 - 5. Plan time in your day for you. Very successful entrepreneurs build some form of exercise into their daily routine. Exercise releases endorphines which in turn can improve your mood.
4. Eat Well
Don't fill up on junk food because you are too buy with work. The wrong foods can cause mood swings and make you slam on weight. Plan your meals 7 days ahead then shop for the food in your meal plan. Make sure you eat a balanced diet of fresh fruit and vegetables, protein and carbohydrates. Cut out ready meals, packets of crisps and fizzy drinks. If you have a slow cooker, make your own soup for lunch. It's really easy to throw in some chopped fresh vegetables, a stock cube and some lentils and beans or pasta and let it simmer whilst you're working away.
5. Get Some Rest
Lack of sleep makes you're brain fuzzy. Cut out caffeine from early afternoon. Turn off all your electronic equipment at least an hour before you go to bed, ideally two hours. Listen to some music, read a book, go for a walk, sit and think, just stay away from white noise and let your brain wind down. Get to bed at a reasonable time and DO NOT take your phone with you. If you have to have it in the bedroom, put it face down, leave it turned onto silent mode and make sure vibrate is off. Ensure you sleep in a cool room so you don't overheat in the middle of the night.