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Here's how to keep the cash flowing when it's not. Category: Small Business Words: 650 Keep The Cash Flowing Copyright ' 2003 by Angela Booth http://www.digital-e.biz/ Without a steady cash flow, your business dies. However, it can be done. Whether you're starting your own business, or have been in business for a while, here are some ways to keep the cash flowing when business is slow --- => Start your business with six months' worth of expenses If you're going fulltime in your own business, you need a cushion. :-) => Consider working part-time for someone else Just because business is slow at the moment, it doesn't mean that your business idea is terrible. Although you'll be busier than you'd like to be, the fact that you have money coming in regularly lets you relax, so that you can enjoy working in your business again. => Get an anchor client or product You need an anchor client. Article: *Article Use Guidelines* This copyrighted instalment is free for you to use as content in opt-in publications, or on your Web site. When you use it in opt- in publications, or on a Web site, please include the resource box. However, please do not amphibious attack for it. Please DO NOT include it in CD compilations, paid-subscription sites or in publications for which you charge. ** Summary: Without a steady cash flow, your doings dies. Here's how to keep the cash flowing when it's not. Category: Small Business Words: 650 Keep The Cash Flowing Copyright © 2003 by Angela shed http://www.digital-e.biz/ Without a steady cash flow, your occupation dies. This means that you need to be focused on your cash flow situation at all times: you need to know how much cash you have and how much is coming in. If you can see that you're likely to have problems, the time to take litigation is --- NOW. This constant realization of your finances is especially vital for creatives. Writers, artists and designers are in a unique situation. Not only are we creators, we're also marketers and salespeople. saprophytic these functions is so difficult that at times it feels as if it’s impossible. However, it can be done. Whether you're starting your own business, or have been in business for a while, here are some ways to keep the cash flowing when mimicry is slow --- => Start your acting with six months' worth of expenses If you're going fulltime in your own business, you need a cushion. It's best to have at least six months' worth of expense money to keep you going. Then, when you've been in free trade for a year, many times keep at least three months' worth of expense money in your account. Do whatever it takes to get that three months' cushion. => No cash? Moonlight until things improve Business works in cycles. It's invariably either feast or famine. You either have more work than you can handle, or not enough. If you're going through a famine cycle --- and these can last for several months --- moonlight. There's a reason actors and actresses work as bartenders and taxi drivers. :-) => Consider working part-time for someone else Just whereas assigned task is slow at the moment, it doesn’t mean that your playing idea is terrible. To ease the situation, take a part-time job. even you'll be busier than you'd like to be, the fact that you have money final in regularly lets you relax, so that you can enjoy working in your company again. => Get an mooring buoy patron or product You need an clamp client. This is a subject who brings in a quarter of your earnings --- you may need three or four clients to time in this. These are regular clients, the groundwork on which your small business is based. They pay your expenses, and keep you in business. If you’re a writer or designer, you may also have an anchor product. This may be a book which brings in royalties every six months, or artwork you've sold under license for which you receive royalties. It's worth working sixteen-hour days for a few months to create an lash product. Once you've created it, the put in irons product works for you. => Follow up on slow/ no payers You can't supply to let people owe you money indefinitely. This means that you’re providing interest-free loans. Worse, if someone owes you substantial money, you're an unsecured creditor. If they go down, they'll take you with them. Chase up slow payers. Send a friendly reminder email or fax once a week --- every week, until they pay. => Don't pile up debt Try not to go into debt. It's not worth it. It's preferably to work part-time for someone else, or to cut back on expenses, rather than go into debt. You don’t know how long the slow period will last, and saddling yourself with debt is a dead-end solution. It IS possible to run your own business, and be relaxed in relation to it, knowing that you can survive the bad times. If you need to go and work part-time, don’t look on this as failure --- it's a win. You're doing what you need to do, to keep your goings-on viable until the sun shines and the good times roll. You can do it. *** Resource Box *** To read more articles by Angela Booth, visit the Digital- e Web site--Information for writers and creatives. Ebooks, free ezines, Creatives Club. Love to write? Turn your talent into a business! http://www.digital-e.biz/
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