Better Time Management for Improved Cash Flow

We’ve all heard it: time is money. And as much as we sometimes hate to look at it in such base terms, it’s mostly true. As service providers (designers and developers), the time we spend on a project is directly proportional to how much we’re getting paid. How we spend our time also has a big effect on when money comes in.

Timeismoney in Better Time Management for Improved Cash Flow

If we want to get a better grip on our cash flow, we need to get a better grip on our time first. Sure, we all recognize that the time we spend working effects our overall income. But it’s often hard to see the relationship between time management and cash flow. Regardless of how muddy the relationship seems, there are direct ties between how you manage your time and how much money comes in when. Read on for more information on how to better manage your time so you can better manage your finances.
Take a Wide View

Wideangleclock in Better Time Management for Improved Cash Flow

Time management is often dealt with on a micro level. We look at our time in blocks of fifteen, thirty, or sixty minutes, and assess how to best utilize those blocks. But when it comes to managing your time with an aim toward more stable cash flow, this micro-management doesn’t do much good.

What you need to do is take a macro view of how you’re spending your time, and manage it based on when you need to complete billable work. Rather than looking at time in blocks that make up a fraction of your day, look at it in terms of what you’re doing this week or this month.
Regular Billing Intervals

Regularintervals in Better Time Management for Improved Cash Flow

One thing you’ll want to consider when planning your long-term time management is the frequency at which you’ll be billing clients. There are a few things to take into account here. One has to do with how many projects you have going, and how staggered they are. Ideally, you’ll want your projects to overlap in such a way that you can send out bills on a weekly or bi-weekly basis. This means you’ll have money coming in virtually every week, which is a big plus for any freelancer’s cash flow.

The other thing to consider is how often clients are billed for work. Some designers might only bill their clients at the end of a project (in addition to a deposit up front, of course). While this results in larger payments, it also means payments are coming in less frequently. You’ll need to decide if you can justify billing more often during the project. Breaking down the project’s fee over three payments can not only aid your cash flow, but also your client’s.

Again, the goal here is to have money coming in on at least a semi-regular basis. Many freelancers will want payments arriving on a weekly basis, so there’s less budgeting involved. Others might prefer to have larger payments coming in less frequently. You’ll need to work out which system works better for you and the types of bills you have and then plan your projects so deadlines and billing cycles correspond with your desired payment schedule.

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By Cameron Chapman

We’ve all heard it: time is money. And as much as we sometimes hate to look at it in such base terms, it’s mostly true. As service providers (designers and developers), the time we spend on a project is directly proportional to how much we’re getting paid. How we spend our time also has a big effect on when money comes in.

Timeismoney in Better Time Management for Improved Cash Flow

If we want to get a better grip on our cash flow, we need to get a better grip on our time first. Sure, we all recognize that the time we spend working effects our overall income. But it’s often hard to see the relationship between time management and cash flow. Regardless of how muddy the relationship seems, there are direct ties between how you manage your time and how much money comes in when. Read on for more information on how to better manage your time so you can better manage your finances. Leer más “Better Time Management for Improved Cash Flow”

Reeling in Clients: Hook, Line and Sinker


Written by: Mike

Any freelancer would know that the art of building a client base can be very tricky. It is a skill that takes a while to master. Over the years, I’ve learned a thing or two about building up your clientele on top of continuing to win new clients and securing repeat business. In fact, I’ve got it down to a science. Three key steps are all it takes.

Reeling in Clients
Image from: caranxcaranx

If you are a freelancer who’s just starting out, and even if you’ve been freelancing for a while now but just can’t seem to maintain a steady flow of clients, I believe that this article is perfect for you. Hold on to your fishing hats as we go over each of these steps I’ve created to help you reel in clients – hook, line and sinker.

Reeling in Clients

The Hook: Get Noticed Leer más “Reeling in Clients: Hook, Line and Sinker”