Stage 5 – business owner, I have a part time business!
Things are getting serious and exciting!!!
Running your creative business part time is a huge mindset shift so make sure you acknowledge how far you’ve come and how amazing you are!
In stage 5, as a business owner, admin has a tendency to take over…
5 Admin tasks you will need to do in Stage 5:
1. Make sure you know your numbers to keep on top of your payment obligations and ensure your profit margin remains healthy.
2. Spend time on marketing, branding etc.
3. It is also worth a review of your legal obligations at this stage, ensure that you have the right level and type of insurance.
4. Do you keep customer names etc? If so you need to register with the ICO to ensure your compliant with Data Protection regulations.
5. You may also want to think about your brand and whether it needs protecting with a trademark…
It can be a bit overwhelming but don’t worry as there is always help at hand!
There are loads of groups designed to help including the Federation of Small Businesses, if you are unsure about anything – ask the experts.
Here are 5 top tips for managing Admin:
1. Do your admin tasks regularly – block out an hour or so every week and stay on top of it.
2. Use your diary to make sure you spend your time productively – set boundries!
3. Delegate tasks whether that’s in your business or at home to ensure you have time to spend on you.
4. Be consistent with your social media and marketing – the more people see you the more they will think of you when the need you talent!
5. Sort out the legal bits out first and set a reminder to review them a month before they need renewing.
If you find that you’re having to turn down work because you simply don’t have the capacity to do it and you LOVE what you do then maybe it’s time for the last decision…
Do I quit my day job???
Looking for advice and Business tips? Head over to our Facebook page Costing for Creatives for more advice and tips – be sure to answer the admin questions to join the group.
For a quick glance at what all 6 Stages are pop over to 6 Stages of a Creative Business!
Be kind to yourself, keep learning and enjoy the journey!