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Top tips for new contractors
So you have recently become a contractor, or you are at least thinking about it. Most newbie contractors can run into a few initial problems. However with a little advice, they are usually overcome quite quickly. One of which is organisation skills. It can be a big shock to some people the amount of organisation that needs to be done when running a business. When you are employed, it can be easy to overlook the amount of work that goes on behind the scenes of your job. If you are not careful the organising of accounts, clients and workload can become unmanageable but hopefully we can provide you with some helpful tips that can see you through you initial setup.
Online banking
For the younger generation out there, you may struggle to remember a time where there was no internet banking. However for those with a little bit more age, this can still seem a relatively new way of banking. It is important for you to fully understand the system your bank offers as it will help massively in keeping your accounts organized. Being able to manage your finances and able to view payments instantly is a really important factor of being a contractor.
Keep a up-to-date calendar
When employed, many people just finish one job and are then handed another by there employer so the organization is completely out of their hands. When self employed, it is completely up to you to manage your time and make sure you meet your deadlines and complete all tasks. This is why keeping a calender is of utmost importance. Many people will use a online calender like Google calender this allows them to access it easily from many electronic devices and also give you the option of sharing the information with other people.
Keep a journal
This can work a little like a calender but is usually a bit more informative. It is important to always have somewhere you can write down notes. After all, you never know when you might come up with your next big idea. Once more, using a online system can help you access it over a number devices and share the content with others.
Invoice system
When business really picks up, it can be easy to be so busy working that you begin to lose track of who has paid you and who owes money. Keeping a detailed and well structured invoice system (such as FreeAgent) can help avoid a very confusing and costly situation. It will also mean you will realize straight away if a client is behind on payments. There are many ways to keep a invoice system but perhaps an online system is now the most effective. A system like Invoiceble is available free online and makes keeping track of your invoices very easy .
Know your technology
We have already covered a few modern day technologies that can help you organize yourself as a contractor. But there are plenty more out there depending on what business it is you are running. It is important to look into this, as a simple bit bit of tech can help you save a lot of time and effort. Being able to save time on the work you do can help you put in a lower quote and out rival competitors. Keep an eye on your phone’s application store for new releases to simplify some of the tasks you need to perform.