Freelancer? Are you ready for the coming storm?

A recession, or at least a significant downturn, is inevitable. No-one knows when or what the cause will be, but recessions are a part of the economic cycle. Will you be ready?

It comes with the deal. If you are a sovereign professional, your sovereignty requires that you make provision for whatever fate my fling at you. That can be tough to hear if you haven’t even got the hang of saving cash for your tax bill.

Here’s a great article from Forbes, by Jon Younger: Freelancers, Get Ready For The Coming Recession.

Have a read. It’s not all about money. It’s about being ready.

 

Photo by Pop & Zebra on Unsplash

 

Learn slowly … and deeply

Tanmay Vora on learning slowly… and why social media is often not the right channel.

I guess it’s the same with the media we consume. In a  bid to stay updated all the time (which is hardly what we call learning), we consume a lot of Tweets, Instagram posts, Facebook updates etc. These are quick bites that may fill your time with an illusion of learning, unless your goal is to just fill the time with something (and hide behind it).

But if you are set out to truly learn something and go deeper, then you need slow media that is cooked slowly with care, has the right ingredients and is nourishing.

Via Michael Wade’s Execupundit.

Image from Minkewink at Pixabay.

Tax-man rapped for aggressive approach to freelancers

Levies for allegedly unpaid taxes, no supporting calculations and no right of appeal. The House of Lords finds that HMRC has been acting aggressively and disproportionately to freelancers it suspects of having avoided tax.

From David Byers in The Times:

The economic affairs committee in the House of Lords this week said that HM Revenue & Customs (HMRC) was overusing “disproportionate” powers that allow it to demand swift payments of unpaid tax from those it suspects of tax avoidance. Those suspected have no right to appeal to a tribunal.

Members said that accelerated payment notices (APNs) and follower notices were being aimed unfairly at lower and middle-income freelancers such as IT workers and NHS nurses, rather than the promoters of tax avoidance schemes.

Lord Forsyth of Drumlean, chairman of the committee, said the balance of power had “tipped too far in favour of HMRC and against the fundamental protections every taxpayer should expect”.

Two pieces in The Times, here and here.

The report from the House of Lords committee, here.

 

Image via Pixabay.

Reasons to say No to more work

Another thought-provoking list from Nicholas Bate.

When you’re a sovereign professional, or run a small business, it often feels like a crazy, reckless sin to turn down work.

Nicholas tells us why we should…

  1. Most great things (time, energy, attention) are finite. Another yes will destroy their power.
  2. And the few astonishing things (the night sky, true love, appreciation for Chopin) which are infinite, require a no to appreciate them fully.
  3. There is not a single reason why you should take on the consequences of their poor planning and ruin your evening.
  4. Babies are not small and cute for very long at all.
  5. To respect yourself.
  6. To have time to go to the gym.
  7. To-paradoxically-build your value because of the focus and quality of your work.

Read the full 22 here and mull over Christmas.

 

Photo by Enrico Carcasci on Unsplash

Goodyear – shoes and tyres

Ever wondered about the connection between Goodyear tyres and Goodyear-welted shoes?

Perhaps not, in fairness, but the answer is family.

Charles Goodyear (senior, 1800 – 1860) developed vulcanised rubber. The Goodyear Tire & Rubber Company was founded some 40 years after his death and named after him.

Charles Goodyear Junior, his son, developed the process for the Goodyear welt in 1869.

Now, you know.

Shoemaker Crockett and Jones has more on the process, here.

Image: Crockett and Jones

Get better clients

Some thoughts:

From Seth Godin:

When the people we serve present themselves, when they offer us their attention and their trust, we need to work to see two things:

  1. Who they are. What do they fear, what do they believe, what do they need?
  2. Who they can become. Which doors can we open, how can we support them, what will they leave behind?

and…

But if people aren’t choosing you, talking about you, asking you for more… it’s either because you picked the wrong axis, or because you’re not better enough. …

Better’s not up to us. It’s up to those we seek to serve.

Tom Albrighton has thoughts on becoming better enough:

Professional life is like this. You borrow some knowledge from here and there, but mostly just keep going along, doing what you do.

Then, before you know it, people start asking you for advice. To you, your answers seem obvious and banal. But people seem to like them. (Your younger self would have liked them.)

You have become the expert. Or, perhaps, the expert has become you.

or …

Instead of presenting ourselves as infallible oracles, maybe we should admit that there’s no certainty to what we do; no one right answer. We contend with luck and failure just like our clients. But we’re ready to roll up our sleeves and work hard nonetheless.

Maybe, it’s down to hard work and focus. Execupundit offers:

The don’ts followed today may be more productive than the do’s.

and…

“Urgent and Important” tasks? Easy choice. Those get tackled first…

 

Photo by rawpixel on Unsplash