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  • #986606
    bbowen98
    Member
    • Total posts: 2
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    Hi,
    I became a fully qualified carpenter November 2013 and i have been working hard promoting my business and my services.

    I had a meeting with my father and mother in law who have been helping up with some personal issues and informed me that i will unlikely succeed as i am unable to manage my personal affairs so therefore will not be able to manage my business finances.

    Can people help me with ways that i can manage my business financially and therefore successfully too 1 prove to myself that i can succeed and 2 show my father in law that i am able to help support my family.

    Any suggestions would be appreciated

    #1158623
    Dave Gillen – Former FS Concierge
    Keymaster
    • Total posts: 2,566
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    Hi there,

    Firstly welcome to Flying Solo! :)

    If you can provide us with more information, the forum members will be happy to give you some specific advice. For example, what are the main issues you want to address in your business? More customers, bookkeeping/records, paperwork, more profits, delivering a better service?

    Giving an outline of how your business is currently doing will also help people to tailor their advice to your situation.

    It’s great to have you here and I hope some of the generous people around here can help you out!

    Dave

    #1158624
    bbowen98
    Member
    • Total posts: 2
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    Thanks Dave

    Basically i am not great at managing finances and general book keeping.
    General finance management.

    Lead generation is another area i need help with as well as having a business plan.

    I find it very difficult to write about myself.

    Any help in these area’s

    #1158625
    Trent
    Member
    • Total posts: 68
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    Hi bbowen,

    If you can’t write about yourself – try talking. Go to live network events near you and talk to other business owners.

    Need help with writing?
    If you need a content writer for your website or facebook page, then myself or one of the many others on here who are experienced in this area can help you stand out from the other carpentry businesses out there.

    Generating leads
    If you need to generate leads, there are a few tools available especially for Tradies that may help you. Send me a message and I’ll point you in the right direction.

    Managing finances
    Get an accountant and book keeper.
    First off, talk to a local accountant based on the experiences of people you know who are doing well.

    A friend and client of mine who does roofing has a book keeper come out once a month for $100 and he said he wouldn’t be in business without her!

    Hope those tips help!
    Good luck!
    Trent

    #1158626
    Hatching_It
    Member
    • Total posts: 414
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    Hi bbowen98,

    I admire that you care enough to try to get help with running the business – you’ve probably already done more than your in-laws expected you to.

    Don’t ever let anyone tell you that you can’t do something, take it as ammunition to go out and prove them wrong (just don’t throw it in their face when you do!)

    I’ve got two suggestions, one requires probably spending an hour a day for one or two weeks reading and creating some organisation, the other costs money paying someone to do it!

    1. Check out the information available on the Australian Business website. It has links there about setting up basic cash based accounting and recording. You need to make sure you read it properly and follow the various links that assist with setting up your records. In the ‘What to do’ section on this page you’ll see a number of links with helpful templates and instructions on setting it up. http://www.business.gov.au/BusinessTopics/Business-Finances/Manage-your-finances/Pages/Set-up-a-basic-bookkeeping-system.aspx

    2. Look up a bookkeeper on FlyingSolo to talk to about it. It’ll cost you part of your hard earned cash, but it will be done properly and save you the time of learning how to do it yourself. You’ll still need to be able to manage your money though. If you haven’t already, get yourself some separate bank accounts. Deposit your incoming cash in to it and only keep enough cash to last the week. If you’ve got no cash in your pocket on Friday night, you don’t drink that week! FlyingSolo directory of bookkeepers – http://www.flyingsolo.com.au/directory/Finance-Insurance/Accounting-bookkeeping?in=Anywhere You can type in your suburb to find some that are local to you.

    Good luck with it!

    Maclean

    #1158627
    Divert To Mobile
    Member
    • Total posts: 2,751
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    Hi bbowen98,

    I would suggest getting down to your local tafe and doing a cert 4 in small busienss management. It will give you a complete understanding of what you need to run your business and why you need it. As a tradie whos not good at controling his finances you better get a book keeper and probably marry an accountant.

    Steve

    #1158628
    MissSassy
    Member
    • Total posts: 1,255
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    Everyone has given you great suggestions and here is another.

    You really need a home budget and a business budget, just start with your personal one first.

    Write down everything coming in and everything going out – the in must be bigger than the out or you are going backwards. Do the same for your business.

    It is difficult but if you make a start you will gain a better understanding of your finances and it will be easier in the long run.

    Marketing yourself will be best done through networking, being listed on pages like the HI Pages etc.

    Keep you chin up and you will get there.

    #1158629
    Anonymous
    Guest
    • Total posts: 11,464
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    Hi bbowen,

    reading between the lines it seems like there is a fair bit of tension that is overflowing into your business life and causing you problems there as well. Have a look at the following video clip. It is directed to new professional photographers who are struggling, but I reckon there is something in there for startups everywhere.

    http://www.slrlounge.com/gap-time-taste-skill-inspirational-video

    At a practical level, in addition to what has already been said, I would take an unemotional review of the comments your father-in-law has made. You may well need someone else to help you with this, but choose someone who cares enough about you to be honest and not just supportive. You need to find out what parts of those comments are genuinely relevant, and why, and then what to do about them. Anything else you can politely ignore. This is to help you focus on things that make a difference, not things that may or may not make you feel better.

    Darryl

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