When you start implementing these processes, you might feel like you are slowing down. You may be tempted to give up on a process because it’s not producing immediate fruits.  You might feel like you are spending more time writing "rules" than "doing work."  But remember: you are building a machine that doesn't need you to turn every gear.  The question isn't whether time will pass; it’s whether time will age you or improve you.

Whether you call it a P&L, Profit and Loss Statement, or Income Statement, your P&L can be one of your sharpest tools in carving out your future.

Whoever you have doing your books should at the least know and understand the basic principles of bookkeeping, understand your industry well enough to customize your books to your business,  and have a basic knowledge of standard trends within your industry to help spot anomalies. 

Financial clarity is the lifeblood of any successful contracting business. Understanding the nuanced difference between cash in the bank and actual earned revenue can be the deciding factor between scaling your operations and struggling to keep the doors open.

With AI becoming more prevalent in our daily lives, it is crucial to understand its purpose, how it can help us, and the potential pitfalls it can create.