25 Aug Working Hard – The Guilt of running your own Business
I have learnt that being flexible and allowing customers to pay as and when I do the work is challenging not only financially but also in how my business runs. I want to be able to guarantee the money in my bank each month from my clients who use me regularly but I also don’t won’t to have the worry over how much I am earning. I do want to provide flexibility for other small companies but do need to be paid for all the hands on work I complete and achieve.
When you are networking you feel like you are miles behind people that have steady income, or are able to take a holiday or just have an important balance of happiness and business. It is never easy and starting to get your name out there means that you try to be so flexible and bend over backwards but what I have learnt in the short space of time is this ends up with the Client in control and not you having control of hours and payments.
To broach the subject of retainer fees with clients is a challenge and you don’t want to loose your clients at such an early stage of setting up a business but you do need to take control and ensure that you can also live and provide for yourself and family. I still have to broach the subject with my clients but I do know that they have seen my work, quantity and quality and so they won’t want to lose my services but reach out and understand that they can have me for set hours a week with my guaranteeing them the work each time.
How do I feel about this, partially a bit unhappy that I am having to put agreements and retainers into place to ensure I can keep my head above the water as I have always wanted to help everyone be flexible and ensure that they are not pressured?
As I full well know when you need assistance or an extra pair of hands when running a small business you don’t want set costs going out or the commitment in case there is not enough work or you are unable to complete or achieve the tasks set.
But would it make me happy to know I have a set basic income coming in a month, yes it would, would I be able to relax and think that it is not just my responsibility to fill up the hours of work being retained but also the client’s – yes it is.
So how have you gone about moving over to contracts and retainer fees?
Have you had to speak with a client or if you are the client how did you feel about the request?