Some background info. About 12 years ago I was ill and unable to work for a couple of years. That put a big dent in the finances but we managed. I decided to go to University and study. University had always been a dream of mine. But when I grew up I thought it was for other people. No one in my family had ever been and I didn't do anything exceptional academically at school. But I had nothing to lose by applying so I did.
I got accepted and went to uni against my doctors advice. The wonderful thing was I found out I'm no slouch academically. I won some awards and scholarships and regained my health. It's amazing what happiness does for your health. I was like a pig in mud at uni! I even cried on my first day I was so happy to be there.
I worked for a couple of years, completed my qualifications and some more study and early mid 2006 started my own business part time. I had a business plan, got mentoring crunched the numbers and set my goals. I even got an accountant! Everything was on track to increase over 2007 and go full time in 2008. I got another part time job for security.
I love my work and it was all going to plan. Then 'Life' got in the way when a family member became critically ill suddenly. I was unable to work for about six weeks so I received no income. I had to live away from home for most of that time so that cost money also. I wouldn't wish the experience of having a family member ill hours away from your home and family on anyone. It was hell.
In order to pay our ongoing bills we had to use the money that we were ahead in our home loan and increase our credit card limit. But you have to do what's best for family and I don't regret our choices.
I had just signed a lease for my business and my kind landlord only charged me my previous lower part time rent rate instead of the new one ( 1/4 of the cost) for the time I was away. So there are good people in the world and you find out who they are when trouble strikes.
Since returning I have only worked enough to pay the business bills only as I still need to provide care. I had hoped that I would be able to go back to my plan of working it full time but realistically I can see that this is not an option. I am already tired and had a health scare of my own only a few months ago.
So the paperwork is in a mess. Tax time is fast approaching and I need to make decisions and take control of the business money leak.
The positives are:
- a great landlord who will let me out of my lease
- it is the type of business I can pick up again very easily in the future
- no business debt, I refused to go into debt to start it and I paid for everything as I went
- one colleague has already agreed to share the rent with me if I want to do that to cut costs
the negatives:
- sloppy paperwork and record keeping (hmm.... starting to see a pattern here)
- I have absolutely no idea of my financial position for the year (see above)
- I love it and I feel dissapointed that my plans have been sidetracked
Yesterday I got started on sorting out the business mess. Here is what I have done:
- wrote out a new billing policy
- increased my fees by 10% in line with other similarly qualified providers
- started checking my records and so far found $900 owing to me in unpaid fees
- found an unpaid professional registration (!!)
- Swore that So Help Me God I will get my paperwork in order !! (I had a Scarlett moment)
Today I will be working on more of the same. I know that a lot of my disorganisation has been a result of the upheaval last year and ongoing demands on me. But I have to be truthful and say that my record keeping and filing was just a mess beforehand. I can only blame myself.
Again it feels good to 'face the music' and sort it out. I really can't wait till the end of June for fresh start in the new financial year.
No comments:
Post a Comment