Wednesday, June 03, 2009

The Business #4: Show me the (promise of) money

This is the easy one. It's the same for every business ni the entire world. Money in. Money Out. And keeping records.

You know this may be the easiest, but that makes it the hardest as well - it's just too obvious. You have to be able to invoice people, you have to be organised enough to do it when the contractual obligations have been fulfilled, when they have been fulfilled.

You have to be able to control your expenditure - the less money you have the more control you need. And you need to have business records that the Government will consider acceptable.

I am neither lawyer nor accountant. But you should never leave yourself open to threat from the grey men in grey suits. So make sure you have enough money at the end of the year to pay for your accountant.

What's on the turntable? "No One Said It Would Be Easy" by Sheryl Crow from "Tuesday Night Music Club"

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