- On March 6, 2015
- solopreneurs cash flow
Solopreneurs certainly have their plates full, especially in the early days of business. When working with new business owners, I commonly notice 2 things they could manage better: finances and processes. The most important issue to any small business solopreneur is cash flow.
The SBA says 52 percent of all small businesses are home based. Working from home is both a pleasure and a challenge. Interruptions in the form of family responsibilities can make it hard to follow through on all of the tasks a solopreneur has to complete. One of the easiest things to put aside is invoicing. However, doing so hurts your cash flow.
I recently discovered a great solution for cash flow. Do you fall behind on invoicing? Or you skip the invoices for all of the work you have done, letting hours drop through the cracks? Both can limit your cash reserves.
Enter Pocket Suite, an iOS app that gives you the tools to invoice and accept payments on the run. This means you complete a job, get in your car and spend 2 minutes sending the invoice right there and then, by text or email. Not only that; you can schedule your next appointment with the client from the app and sync it with your calendar. You can also see your service and payment history with each client in one place.
In short, the app is a great way to keep your cash flow running and manage your time. In addition, Pocket Suite only charges a 1.99 percent processing fee, which is less than you would pay to PayPal or Square, and certainly less than a merchant service. Why wouldn’t you want to keep more of your hard-earned money in your pocket?
Pocket Suite syncs everything through your bank account, too. If you are importing your bank records into your accounting program, all of your invoice and payment transactions are added to your monthly accounting. This makes it easy to get a clear picture of where your business stands in terms of growth and costs.
This feature allows solopreneurs like you to easily review financial statements, determine how well your current business model is working and see at a glance whether you are profitable.
Pocket Suite is the app that gets you paid. It may be the easiest way to schedule and invoice your clients. And best of all, it’s free to download.
Try it out and share in the comments what you think.