Feeling the cash flow crunch? Trust me, I’ve been there. It’s the #1 killer of small businesses, and it can leave you stressed, scrambling, and wondering how you’ll make it through the slow months. 💰
Here’s the deal: cash flow problems don’t just happen—they’re a sign that your financial planning needs a serious overhaul. But don’t worry, I’ve got a fix that worked for me.
First, get real about your numbers. Create a cash flow forecast for the next 6-12 months with your controller. No more guessing—you need to know exactly when you’ll be in the red so you can prepare.
When I started using a work-in-process (WIP) spreadsheet, it was a game changer. I knew when cash was coming in and could plan payments accordingly. It made a huge difference.
Also, review your expenses—cut anything non-essential and don’t be afraid to renegotiate with suppliers for better terms. Remember, cash flow is your business’s lifeline.
Even if you’re owed big amounts, like $1.5M, being short just $10K could sink your business. It’s critical to get the right financial infrastructure in place. Once you do, it’s a total game-changer. You’ll be free to focus on your genius and build the company you envision. 💪