Financial planning. Budgeting. Forecasting. The most organized, business savvy folks wouldn’t DREAM of not planning when it comes to money. And yet the solopreneurs I speak to sometimes are not planning for an expense.
What I mean by this is they have not thought about what they would like to spend on a given service. Without this knowledge, they are wasting their own time as well as the other service providers’.
Let’s all do each other a favor and decide what range we are comfortable with. Disclosing that is another story, for a future post. But for now, knowing our minimum–what would make us RUN in fear of low-quality–and our maximum–what would make us say NO immediately because we don’t see the value–is an important but not urgent activity.
If you don’t plan for expenses at the macro-level, do you identify ranges when considering services?