Photo by boulter via Flickr Creative Commons.

Photo by Mingo.nl via Flickr Creative Commons.

Just over two years ago, when my husband was presenting all the “perks” of owning his own business, the idea of having more time as a family really appealed to me.  It was probably the biggest selling point my husband could present.  I don’t believe that either of us were prepared, however, for sharing our family time!

Yes, I admit, we do spend more time together as a family.  But very rarely do we do anything or go anywhere without my husband’s phone ringing.  Nine times out of ten, it’s a business call that he “has to take”.  At restaurants, movies, the park, family gatherings…EVERY CALL COUNTS. 

One evening had been particularly rough, and the two of us were just sitting down to watch some of the many shows we’d recorded on DVR.  About 15 minutes into our first show, at around 11:30pm, his phone rang.  To say I was irritated is putting it mildly.  He answered to find a very intoxicated man requesting a quote for a windshield replacement.  Being the good businessman that he is, he looked up the part and price, and gave the man a quote.  The man scheduled the job for the next day.  My husband called me after doing the job to inform me that he had met his first customer who actually jumped up and down with excitement about having his windshield replaced!  Yes…he was still drunk.  But he was a happy customer, and we made money we wouldn’t have made if Patrick hadn’t answered that call.  EVERY CALL COUNTS!

I am constantly reminding myself that the decision “we” made (in quotes because I only take responsibility for it when it’s good!) to become business owners requires us to be on call all the time.  If we miss a call, the next glass company may get that job.  And in this economy, we can’t afford that! 

This is why Patrick carried his phone into the ocean this past June…he was waiting for a call.  The call came, but several hours later when the phone was being eaten alive by the salt water after the largest wave EVER struck my husband…and his shirt pocket (where the phone was nice and safely waiting).  By the time Patrick could get back in touch with the caller, all eight jobs had been contracted out to another company.  EVERY CALL COUNTS!

So, do we enjoy our added family time…YES.  Do we like sharing it with strangers?  Not really!!!  But we have learned rather quickly that owning our own business is not an eight to five gig!  It’s all day, every day.  The key is learning to appreciate what it means.  Our business is growing.  We’re making more money.  We’re a step closer to reaching our goals.  We’re succeeding!

Photo by Mykl Roventine via Flickr Creative Commons.

I can’t help but think about how nice it must be to look out that window every morning.  Tough work!  Giada’s an incredible cook, and a very lucky one!  Can you believe I have a friend who watches her show daily, and has never noticed the background!  Sometimes I find it hard to focus on the show!  Great “work at home” environment! 

Photo couresy of Food Network

Photo by JAGwired via Flickr Creative Commons.

It’s a new year, and if you are like most people, you thinking of how to improve your budget for 2010. For someone with a home business, budgeting is especially important. This is because you may not have a steady income each month. Some months you may make more than other months. As a result, budgeting becomes especially important. Here is a simple process that can help you budget for the new year:

1. Look at your total earnings for last year. Divide that by 12 to get a monthly average.

2. Look at your total expenses for last year. Divide that by 12 to get a feel for your monthly obligations.

3. Create a monthly budget based on your income and expenses.

4. On months when you actually make more than your average income, put the money in a high yield savings accounts.

5. On months when you fall short of the average income, you can use what you have saved up to make up the difference.

This process is easily done when you have personal finance software, or bookkeeping software. You can create a report that breaks it all down for you, including allowing you to see categories (entertainment, eating out, etc.) where you can cut back if necessary. If you don’t have personal finance software, you should consider getting some in order to more easily track your cash flow.

I loved this great E*Trade commercial featuring the baby reminding his buddy that the lottery doesn’t constitute a solid retirement plan.

Happy Friday!

One of your work from home New Year’s resolutions might be to reduce your freelancing workload, or to find more time for other pursuits. This is important, since you don’t want to be stressed too much about what is happening in your home business, and have it encroach too much on the rest of your life. However, it is important to carefully consider your options before adjusting your freelancing workload. Here are some things to consider as you work on changing things up with your home business:

* Cost efficiency of clients. Consider renegotiating your fee with clients you have had for a long time, giving them a chance to pay what you are worth. Some clients, though, may not be cost efficient at all, and it is time to let them go.

* Stress level associated with clients. Sometimes your relationship with a client is more of a factor. If you don’t like the work, or if the client stresses you out, or you find the work difficult to deal with, it can be a good idea to cut ties with that client, and keep a less stressful client, even if s/he is less cost efficient.

* What you can handle. Consider your quality of life. If you can afford to cut back in order to spend more time with your family, or do something for yourself, it might be a good idea to do so.

For courtesy’s sake, though, it is a good idea to let your clients know at least two weeks in advance, so that they have time to make other arrangements.

In this classic Homestar Runner video, Strong Bad explains the different types of people that frequent garage sales. Enjoy!

Happy Friday!

Many people like to do their own taxes, rather than pay someone else to do them. While I understand this mindset, I am glad the I use a tax preparer for my pass through home business LLC and for my personal tax return. For years I did my own taxes, even when I filed as a sole proprietor. However, when I switched my organization to the LLC, added some investments and began itemizing, I decided that perhaps things were getting a bit too complex. I am perfectly capable of taking care of it myself, but it is so time consuming.

I have to read instructions, make sure I have the right forms, and keep up with all of the ins and outs of new tax laws, credits and deductions. Sure, I could buy some software to figure my state and federal taxes, and do it for my business as well, but by the time I paid for the proper edition, it would only be a little less expensive than using my tax preparer. On top of which, we go back to the time thing. With the tax preparer, I bring my (well organized throughout the year) stuff in, talk to him for about half an hour, and then leave for an hour and a half, running errands and being generally useful, while he prepares everything and gets it all ready for e-file.

Even with software, I’d be sitting there for a couple hours in front of the computer. And when I add in what my time is worth, it tips the scales in favor of the tax preparer. It’s more convenient, I have more time, and it’s worth the cost.

What about you? Do you use a tax preparer?