Episode 5: Handling Your Finances Podcast

Hello to everybody following the ‘Build your web business’ podcasts series! Today Paul and Marcus will talk with Rob Borley from Dootrix about how to manage your finances as a web design business.

Now we will try to outline a brief handling your finances podcast plan so that you know what to expect.

Paul decided to invite Rob to take part in the podcast when they met up recently at the Big Do conference in Oxford. The guys have a load of questions sent in by Boagworld listeners and also by the Template Monster community.

The first one is “How do I work out the expenses for my business? Would I not just add them up as they come in, because that’s fairly easy? But how do you predict, calculate and work out what your expenses are on a monthly basis?” Here Rob shares his past and current experiences on approaching finances. He tells us how much he out-sources and how late invoices are chased by the third party he uses.

The three of them also discuss the time-tested tools you can use for future expense calculations.

The next good question is: “I worked out my expenses, and from that I calculated what my charge-out rate is, or should be, but I am still not making money. What am I missing?” Rob gives great advice how to stay on top of that.

Then Rob answers the question “How much time can you expect to charge out? How much does he plan around?” which is also just as important.

The next topic is “Does one need an accountant? Isn’t there software that does this kind of stuff?”

And the last question before the podcast wraps up, is about the most important question on the list “How to get away with raising one’s rates without upsetting the clients?”

We are sure that all of the above mentioned questions are crucial for your business, so you will be impatient to hear the answers. The transmission will be not only informative, but also fun, as always. We are sure you’ll get the maximum benefit from this podcast and get to know how to handle business finances.