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Contracts and Finance
One of the most important tasks you’ll take on as an independent contractor is tracking and billing your time. Whatever billing method you choose, you’ll want to present a reputable, professional contractor invoice to your clients. Follow these five tips to present a clean, professional invoice to your clients. 1. Set a Billing Policy Creating…
View MoreWe had a chance to sit down with Toby Scammel, the founder of Womply, a platform for small businesses. He shares the story of how their company saw the small business impact of Covid even before the government, and how they have tried to help. What is Womply? Womply is a small business focused technology…
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Gross Margin vs. Net Margin: Important Accounting Terms for Self-Employed Professionals Gross margin and net margin are two common profit margin ratios you should track on your company’s income statement. These numbers indicate how good your business is at converting revenue into profit, and are important in assessing the financial health of your business. What…
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As an independent professional, properly managing your expenses is not just good business, it’s also a good income strategy. As a business-of-one, you will likely incur fixed costs that can’t be billed back to a client. You may also need to take care of expenses such as health care and retirement. Each of these fixed or variable costs…
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Philanthropy can be an important part of your brand, even if you’re a business of one. Not only is charitable giving a great way to give back to your community and support a good cause, but it can also help to build connections with existing and potential customers, differentiate your business, and gain positive publicity. But…
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As an independent professional it’s important to understand key financial terms. There will be a financial component to every part of your job, from the beginning of a project when you are negotiating with a client about your rates and writing a contract, to the end of a project when you are invoicing a client…
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If you’re considering starting a small business, you are probably encountering many new financial terms as you begin to set your bill rate and put systems in place for tracking your time, and collecting invoices. Understanding these terms and numbers are an important part in determining the sustainability and success of your business. They can…
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Calculate your billing rate and find tips to help you evaluate and maintain your consultant salary.
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Starting a new business or landing a new client often begins with writing a proposal. Mastering the details of how and when to deliver a proposal to a potential client will help you win new business, find and retain clients, and become an expert in showcasing your skills and abilities. What is a Proposal? A proposal…
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If you’re ready to take the leap and start your career as an independent professional, there are a few key steps to take to build a successful business. Understanding the tax implications of becoming an independent contractor is an important part of your financial preparation. While your employer was required to withhold federal income, Social…
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