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Poll of the week 📢
This week we’re bringing it back to basics – whether you’re a seasoned portfolio professional, a long-term freelancer, or have recently kick started a side hustle alongside your day job – everyone needs to reflect on their financial management 💰
From keeping on top of your taxes, to invoicing, setting up a business bank account and managing your pipeline, there’s so much to reflect on when it comes to financial management 🤔
So for this week’s poll we want to know – what’s the biggest challenge you face when it comes to financial management?Â
What’s the biggest challenge you face when it comes to financial management?Â5 Comments-
Hey Ella Bernie – for me it is actually an element of all options – the tricky bit for me is to sufficiently see/understand the full picture and then break it down to the manageable tasks/actions.
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Other:
Talking about financial management is my biggest challenge! Lol.
But seriously, I’ve been freelancing for nine years now and I think the biggest challenge I’ve faced has been managing cash flow during the pandemic. As an external design resource, I was the first expense that my clients cut, and over the course of the past two years I’ve seen many of my contacts change jobs, change careers and even retire. It was also horrible to see my clients struggling to manage their cash which had a knock on effect when they couldn’t pay my invoices on time. Managing cash flow is one thing, but there’s no way I could’ve prepared for that kind of hit over such an extended period of time. I now find myself in a period of transition where I am rebuilding my network again from scratch. Thankfully I feel there is more confidence in the market and things are starting to pick up quickly.
Would be intrigued to hear what you guys think ahead of today’s Let’s Talk – Louise Waldron, Lisa Miller, Tina Louise, Dana Muntean, Jen Whitfield, Mike Richardson, Wendy Liu, Ryan McGee, Caoimhe Kelly, Pete Domican, Regina Dundelova