Aug 08 2009
What Do You Do When the Cash Flow Dries Up?
Part of what makes a business a business is the cash flow. You need to have more money coming in than going out.
I remember my first year in business when the flow had slowed down to a trickle and then almost stopped at one point. I felt hopeless, fearful and anxious. When I added a bit of self-judgment to that mix it was a sad sight.
What do you do when this happens? Quit, get a job, go into a cave?
Nothing is wrong or bad about quitting but that decision needs to be made in a place of empowerment and not in the face of fear. It’s actually an excellent time to re-prioritize your business plan of action and goals.
1. Are you 100% commited to your business? If your answer is anything less than 100% it’s important to look at what is making it less and what you need to do to bring it back to 100%.
2. Re-do your marketing plan so it is clear and targeted to exactly who you want to work with. Come up with ways to communicate with them that get’s their attention. Offer something of value for free to get them through the door.
3. Review your whole business plan and make sure you are on track of where you are now and where you are wating to go.
4. If you are in a funk make sure you get help. When you make important decisions from a place of fear they are never good. A good mentor will help you to stay objective and make decisions from a place of empowerment.
5. Do one positive thing for your business today and another one tomorrow. Keep watering and weeding your garden and it will flourish before your eyes.
Thank you Kaya for this article very empowering, I love it!
Gotta share it on my FB!
Thanks Carolina
It’s definitely a part of owning a business so it’s better to name it and face it!
Kyaa… Thank you for the reminder. May I echo your great advice.
BTW I have been considering adding Google Friend Connect to my blog site, and you have inspired me to do it. I will take your advice tip #5 and do this as my positive thing today.
Howard
Thanks so much for your feedback. I hope you’ll come back and join my friend feed!
It is amazing how doing one small positive thing can change your perspective for that day. Today I clean my office – not my favorite thing but I love the results. Kaya
Kaya… Thanks. I joined your friend connect and then immediately did my one positive thing to help build my business today.
I added friend connect to my new blog site http://BizChatz.com
You are invited to join if you are interested.
I’m going to do one more – tweet your post here and then take the rest of the day off for church and relaxation.
Thanks for your inspiration. …Howard
Really good article, Kaya. I know a lot of us are feeling a bit stuck. Good insight. I think it just helps to know that even some of the people that we admire go through these periods too.
Thanks,
Barbara
Thanks for your comment Barbara. Most business owners go through this actually. People just don’t talk about it. But it’s part of the process.