I feel for you Moik, I had a similar experience a few years back. From a young age I always wanted my own business. I started a few when I was young and never investigated the operating costs properly. I was always concerned with creative part of the business. Since then I have learned, sometimes expensively out of my own pocket. The 2 main functions of a business are the sales and operations. You might be the greatest web designer on the planet but if you can't sell your skills you'll be a starving great web designer. If you can't sell yourself, higher someone who can but make sure you add this to your costs per project. Make sure you investigate every company law available and what can and can't be deducted from the tax man. For years I was letting clients slide with late payments. I wasnt even aware of the law allowing you to charge interest on late payments. Now a days, I'm much more diligent, but the funny thing is I don't have to work as much. Gone are the days of slashing my prices just to get the job. If I was you, I'd look at your outgoings and cut them. You have no experience in the web design industry, you don't have to, you just have to be able to project manage. If your project manager isn't doing a good job, let him go. There are plenty out there willing to fill his shoes. At the moment you need to break even. Outsource the job to another country with cheaper cost of labour if you need to. The same goes for your development team. There are millions of coders out there and the internet is the easiest tool to find freelancers. Higher them on a per project basis. Keep cutting your outgoings and take a more hands on approach. Your situation isn't going to improve unless you make some changes. |