How To Make Your Revenue More Predictable
Recently I was reviewing an annual P&L with a client. While the revenue looked really good, they were struggling to make payroll this month.
After digging deeper, we discovered their business comes in waves. Most of their clients pay up front in the spring and summer months, while winter months leave them scraping for pennies.
While your business may not have that drastic of revenue swings, every business deals with the up and down rollercoaster of cash flow in some capacity.
One solution is to create a drip account. Take some of your excess revenue in your good months and distribute it across multiple months. This will allow your good months to support your low months.
Click here to watch a video explaining how to implement a drip account into your business.
Most business owners struggle with managing their money, resulting in smaller paychecks for themselves. At Craig Dacy Financial Coaching, we help make managing your money simple. That way you can easily run a business that pays you more. Schedule your free coaching session now.