A friend of mine works as an in-house designer. He emailed me the other day with a question that’s come up a few times recently. It’s a question I’m asked by people at various stages of their careers, from students to those, like my friend, who’ve worked for somebody else for a long time. The question? “What financial advice do I have for anyone who’s planning to go self-employed?” Rather than write that advice in an email, I thought it might be more useful if I wrote it as a short post.

My contribution to The Pastry Box Project this month:

There’s no reason why anyone should have to wait more than 24 hours for the money you owe them, especially people you work with.

So the next time you receive an invoice from a contractor or supplier, pay it right away. Don’t wait a month, a week, a day or even an hour longer than you have to. Better still, find out how to pay them before they start any work. That way you can pay them immediately when you receive their invoice.

They’ll feel good and so will you.

(This post was inspired by the experience of someone I know.)

This morning I picked up the phone to (just) Holly, a chirpy sounding lady who asked if we played music ‘within our business.’ If we did, we’d need a license. I told her we didn’t (yeah, shoot first and ask questions later) and she said we’d be removed from their list (whatever that is.)