Navigating lumpy income: practical tips for business owners

07/08/2023 30 min Temporada 5 Episodio 112
Navigating lumpy income: practical tips for business owners

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Episode Synopsis

Send us a textEver wrestled with the unpredictability of your business income? In this episode, we're going to up your financial game plan with strategies to manage lumpy income and navigate through this often overwhelming hurdle. Let's unravel the strategies to create a financially stable business, even when your income swings like a pendulum. We'll take you on a journey through cash flow issues, budgeting strategies, and even guide you on managing income during product launches, client interactions, and economic downturns. Craving a safety net for your business in the lean months? We're going to build it together! This episode is all about cash flow forecasts and the creation of that vital emergency fund. We'll arm you with strategies to address cash flow gaps, anticipate future bills and taxes, and prepare for unexpected income recessions. You'll learn the art of diversifying income streams, tweaking prices to counter seasonality, and the right way to invoice. Also, we're throwing in some sure-fire marketing tactics to widen your customer base and maximize profits. Are you ready to gain control of your financial stability? Let's dive in!Support the showThis episode is brought to you by Become A Business Money Magnet - Simple habits to manage your money and supercharge your profits!Want 30 Ways to Save Money in your Business? Download the guide here.Need a business finance coach or want to get your pricing sorted? Book a Strategy Call NOW.Join the conversation Connect with Justine:InstagramFacebookLinkedInWebsiteDiscover the Secrets of Successful Business Facebook page Follow Justine on Instagram @flossifiles or @secretsofsuccessfulbusiness Host: Justine McLean – Flossi CreativeProducer: Leah Stanistreet – Snappystre...