How often do you see money out and money goes into your business and see negative numbers? How often do you have too many more months at the end of your money? Are you regularly worried about how you will pay bills or pay yourself? What did you stop or do it because of this?
One of the biggest problems I see with women (and men) who run a small service-based business, especially in business where you as owners and business leaders is the only service provider … is how to ensure consistent cash flows , So you don’t experience the peak of cash that comes when giving / producing, and trough cessation of cash as shipping service ends. This is a cycle that many business owners (including experienced practitioners) follow it.
The way to deal with this is the first to recognize it as a problem (potential), then to manage your cash flow rather than having it manages you! You can do this by reducing your costs … money flows out. But my focus here is on how to improve your business. Money flows in
Here are my main tips on how to manage your cash flow by increasing cash flowing
Cash Flow Management Tip # 1
Have more sales conversations. Don’t commit all the time to ‘deliver’ so that you are so busy, you stop involving your prospects. Make sure you take the time and plan that time to talk to them and listen to what they want.
Cash Flow Management Tip # 2
Create a package at a different price point. If you usually offer creatively set services about what you can offer and how. Can you provide some standard knowledge and information in different formats, as written products, audio or video? What about Pick Packages and Mixed Products and / or Services? Or retainer package? Unlimited possibilities. You only need to meet people where they are now and give them what they want in a accessible way. So make more packages.
Cash Flow Management Tip # 3
Make an offer regularly. When you are involved with the prospect and when you have a sales conversation, make an offer. Don’t be tempted to ‘think about it and return to them’ – make them an immediate offer. If you are not really a sales conversation! And even though there might be an opportunity when it’s not right to make this offer must be an exception to the rules, otherwise I will say you are not clear enough about who your ideal client is and how to attract them. All your prospects must be the ideal client in waiting!
It is important to do these 3 things consistently, to have a system and how to plan your time effectively so you don’t spend weeks or maybe months that focus on shipping services, then in your slow period, it is focused exclusively on sales and marketing , That is the road to cash flows that are inconsistent and negative. And which is why the saying goes ‘turnover is a vanity, cash flow is king.’
And that’s true because if you can master this then you will have a business that serves you and also presents your clients. A business that allows you to plan, develop, and develop yourself and your business and free of life for worry.