image for post - FT 027: The Keys to Financial Health with Mark Butler

FT 027: The Keys to Financial Health with Mark Butler

As the Budget Nerd, Mark Butler has found an interesting niche. Yes Mark provides bookkeeping services to freelancers, but unlike many bookkeepers, he also acts as their Chief Financial Officer, helping them to understand their financial position and to steer them on track. In this interview Mark shares the mistakes that endanger most freelancers' finances, and the keys to building stable finances instead.

This an episode for everyone who keeps finding themselves "at the intersection of busy and broke".

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Mark shares with us:

  • The cashflow flaw in most consulting businesses: most consultants build their business model on fixed costs but highly variable revenue. Why this happens, and why it's a cashflow disaster.
  • The underpricing problem. Why this keeps showing up in finances and why so many freelancers have completely unrealistic pricing.
  • Techniques to create a reserve even when cash strapped and why this is so vital. Mark has great insights here, and also explains how a by-product of implementing these practices is not needing to dip into the reserve that you have created.
  • How to Create "Sane" Revenue Expectations. Let's face it, trying to forecast your sales in advance. Mark shares how to think about this.

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