Juggling the finances, between business and personal
Managing money can make or break a business. Money can make or break most things. You do not want your first step into the self-employed world to turn into a stumble.
There will be a point when you will have to decide what will be profit from your business and what will be for yourself. It is an inevitable decision, but there are ways to help plan out what to do.
Peter Sander, author of Ultimate Guide to Persona Finance for Entrepreneurs, describes in as a triangle. Business operation, business finances and personal finances, these three points of a triangle have to be managed to decide how to proceed.