Those who have started a business (or even a sideline in order to earn extra cash) have plenty to celebrate this Fourth of July. But after you've throw a few franks on the grill and popped a cold one, consider these ways of boosting your entrepreneurial independence this summer:
Get Some Summer Revenue
Summer's here, and opportunities for quick money abound. If you're a recent graduate, a teacher or student off for the summer, or anyone else looking for some quick cash, summer's a great time to start a business.
With a little money, some hard work, and a lot of entrepreneurial spirit, you can start turning a profit immediately. And all of these ideas are things you can still walk away from in September if you want to.
.Six hot ways to be your own boss this summer.
Collect Some Unpaid Invoices
I hate getting stiffed by clients -- don't you? But did you know there's a few steps you can try before pulling out your hair. Even more than that, consider putting into place certain policies and procedures that will help prevent unpaid invoices from happening to you. Here are some ideas on doing just that.
Make Yourself More Efficient
It's summer -- you're naturally going to want some extra time to spend poolside, fishing or just hanging out with the family. The trick is not to work harder, but to work smarter. To do that, find a productivity system that works for you, or design one of your own.
Master Your Cash Flow
Get to know your cash flow -- and, more importantly, get in the habit of tracking it monthly or creating a cash flow projection that takes into account your past actuals.
Excel or Google Sheets are both easy and inexpensive ways to stay on top of your own unique business situation. Look at cloud-based solutions like Quickbooks and Freshbooks as well.
Mind Your Health
Cigna did a recent study on freelancers' attitudes toward health insurance and found that most overestimated the cost of health insurance and underestimated the cost of medical procedures. Where perhaps a decade ago, there was little choice in the arena of health care, due to the changing nature of the American working life (and plenty more entrepreneurs and freelancers) options for healthcare have opened up in recent years.
If you've been neglecting your health, consider making it a priority this summer. Try the health care exchanges to see if you qualify for lower-cost health insurance.
We don't mean lose a few pounds. Popular in startup circles today is the Lean Startup" methodology and the idea of the "minimum viable product" which involves creating something workable that you can move into the market as a vehicle for understanding your customer and the opportunity for growth. By compressing the cycle of learning, production and evalution, the "Lean Startup" model offers an efficient model for anyone trying to capitalize on a market opportunity -- and be more efficient in the process of doing so.
It seems like a no-brainer but it's one area that many entrepreneurs neglect. Mitchell York advises: "Sleep 8 hours. What do you need to do to make this happen? Give up Leno. TiVo Jon Stewart. Read one chapter instead of two. Being productive and efficient starts with sleep and getting enough. And along with this goes a whole range of health and wellness practices dealing with diet and exercise. You know what they are, so do them."