As a bookkeeper and a business person I have to comment on this. This is what really matters in the end “Can we keep the cash flowing?”
And keeping the cash flowing is the art of business!
And art to me is important, not unlike the cherished kiss of books and fables’.
So how is a kiss, art and business all connected?
And from passion comes prosperity.
The art is in the selling of your passion. Music, home, family, nature, sustainability – these are expressions of our passions. This is your business and somewhere in these economic mess up times is our individual need to continue needing cash and each other.
So, how do we do it?
Cash flow works simply like this:
I get paid,
I pay my provider,
he pays his employee,
his employee pays you
and then it starts over again and again.
Sometimes, the line gets stretched from deferred payments but it can be dealt with a little planning and a lot of work! When we start breaking this line by not paying at all, it all goes sideways and then everyone is for the lessor of it.
There are many do’s for business as there is for life. I have 23 years of answers but most importantly –
I have seen very clearly what not to do!
1: Don’t whine or complain of your poor financial status – you will not ensure confidences in your endeavours by doing so.
2: Don’t settle for less- Have your fees for goods or services competitively marketed and don’t compromise on these fees. If you are hungry enough, you will settle for less, that is why the first don’t is so very important.
3: Don’t except others to bail you out – a safety net is nice to have but it is there to catch you before you fall too far. There is really no such thing as free cash, you will have to work for it.
4: Don’t expect others to reduce their fees for goods or services – fees paid to others fill a host of needs. And they usually require cash to attain them – see cash flow.
So suck it up and remember Shakespeare said it best: “All the world is a stage, and the people, its players.”