Current and future biz owners: you should read this now...
I know this is a touchy subject and one you rather not think about, but it's a necessary conversation to have.
You hit a wall in your business.
You're not sure where your next steady cash flow will come from.
You hit the "panic button" because you have people to pay and you need to stay afloat.
Thinking about committing to anyone's 9-5 is not an option.
Chaos and confusion about your next move is taking over your mind.
So your focus shifts to the fear or losing everything you worked so hard to build and now your performance in your business is suffering.
Now, let's stop right here.
There is a preventable solution to this.
And it starts with this formula:
Preparation + Attitude + Good Energy = Positive Cash Flow.
Preparation. Consider taking out a business loan BEFORE you need it. For this, you need to be in business for a minimum of 2 years and have a credit score of at least 620.
Attitude. Stay positive and keep a mindset of gratitude no matter how bad the situation seems. Think of how far you've come to be your own boss. Be thankful that you've made it this far and keep pushing! Now is not the time to throw in the towel and give in to a moment of debt.
Good energy. Focus on what you can control. Your performance. That's' totally up to you. Keep up the good work to keep your client base steady while you work out the other financial aspect.
Positive cash flow. What you focus on you will surely CREATE. Always be in abundance thinking and focus on THAT part of finances while working on a solution.
Remember this: Preparation + Attitude + Good Energy = Positive Cash Flow.