We attended the Women’s Inspire Network conference in Galway 2 weeks ago, and as we spoke to some of the amazing women in business, we were reminded of the challenges we can face while setting up a business. This could be in terms of finance, stepping online and a range of other issues, including the challenges we face within ourselves. If you are struggling with certain things while trying to get your business off the ground, just remember: you’re not alone.
Creator of Social Media Planner
Co-director of Avviso Media
Co-founder of Social Day
Lucy is a jargon free, straight talking social media consultant. She is also a founder of SocialDayUK – the UK’s biggest Social Media Marketing festival and a Director at Avviso Media; an agency that specialises in creating content for social media channels.
“Cash flow was a major issue for me at the beginning. It was hard to understand.”
One of the challenges that Lucy faced is a pretty common one among those who are new to business. Managing cash flow can be tough at any point of your business journey. Having your books and accounting clear, simple and up-to-date is vital so hiring a professional can be very helpful if you feel a bit lost. Keep tabs on invoices and customer payments, and separate your business finances from your personal life. Make sure you have an organised and steady system in place. Some popular cash flow management tools include Pulse, Float and Cashflow Manager.
“Also, getting processes into place. As you grow in a business, delegation can become a problem.”
Sometimes when we’ve spent a certain amount of time working on projects of our own, it can be hard to let them go and let others take some control. It’s good to think about what you have and what you can manage. Consider delegating some work in order to help develop processes and do more with the same amount of time. This will ultimately aid in a more efficient workflow of your business.
Find out more about Lucy on her website, www.lucyshall.com.
Keep an eye on our social media for the next part of our series coming next week.