(Add to Favorites | View All Articles | Resource Directory)
|
|
|
The feast-or-famine roller coasterAvoiding the Small Business Cash Flow Roller CoasterA solopreneur I know disappears from my radar screen for weeks on end when she's actively engaged on a project for a client. During this time she is heads down, totally focused, and immersed in delivering her service to her current client. She works long hours each week, sacrificing her personal life, relationships, and self-care to meet her commitments to her client. Laudable, but a destructive way to run her business. After working all hours of the day and night to complete her project, she'll hand in the final deliverables and suddenly find she doesn't have another client lined up. Then she panics. That's when she starts returning phone calls and getting in touch her network, her former clients, and any prospects she might have ignored during her "work period." She rides the feast-or-famine revenue roller coaster continuously. During her "work periods" she has cash coming in; during her "marketing periods" she has cash flowing out. And she has no idea how long her "marketing periods" will last or how much of her revenue she'll need to live on before she gets her next client signed up. Does this sound familiar? Here are the 5 biggest ways to avoid the feast-or-famine roller coaster: 1. Make time to consistently promote your business. Don't be like the solopreneur above and only participate in marketing activities when you are between jobs. 2. Build effective strategic alliances that leverage your marketing resources and enhance your visibility in the marketplace. 3. Get referrals from your current clients. (And that doesn't mean that you ask your client "Do you know anyone else who's hiring right now?" as you pass each other in the hallway! It does mean that you systematically build a referral engine for your business.) 4. Create project-oriented teams to level the workload, leverage your marketing resources, and expand the types of jobs you can get. 5. Work for multiple clients at the same time. Running a business on the feast-or-famine roller coaster is hard on the cash flow aspect of your business and harder still on your nerves. With diligence and determination you can break this cycle. Copyright 2004, Rose Hill, Inc ____________________________________________ Rose Hill, Founder and Owner,of Biz Whiz Expert (http://www.SoloBizVille.com) and Team Member of Solo-E.Com (http://www.Solo-E.Com) has been self-employed since 1990 - first as a technical writer and publications project manager, and now as a business coach for solopreneurs. Knowing how to run corporate departments and how to market corporate entities, products, and services did nothing to prepare her for successfully running and marketing a one-person business. That is why Rose created the SoloBizVille and SoloBizU community - to specifically to help solo entrepreneurs jumpstart their business success without all the trial-and-error learning. ____________________________________________ *********** Find more articles like this at http://www.Solo-E.com - Keeping Solo Entrepreneurs Juiced in Business and in Life. Our team of Solo Entrepreneurs are comprised of small business experts who support others in finding business success with the flexibility and freedom to have a life, too. Network with other freelancers, self-employed and Solo Entrepreneurs in our forums, enjoy our articles and newsletter, and find other online training opportunities. ***********
MORE RESOURCES: News provided by Yahoo! News and Google News The Politics of the Small Biz Bill - Zacks.com Small business tax workshop Sept. 16 Small biz getting lower health care costs - Queens Courier Small Business Administration moves Gulf Shores, Orange Beach service center Small biz, big rates - Boston Business Journal Dearborn Chamber empowers small business with exclusive networking group Rockford business owner talks about small business tax break benefits Small Business Marketing Tips: Accepting Failures Ask SmallBiz: Leadership Training - Hawaii Business Magazine |
|
|
|
RELATED ARTICLES
What do small business owners do to succeed? Do you spend every waking minute in your business? Do you find it difficult to take time out for you? Are you constantly working in a mess?Unfortunately there are far too many business owners working too long and too hard. They tend to be involved in every aspect of their business from being the bookkeeper, marketer, human resources manager, mediator, customer liaison officer and cleaner. 11 Things Small Business Owners Can Learn From The Supreme Court 1. Have A Strong Constitution - Justices deliver decisions by interpreting the U. Mobile Pressure Washing and City Contracts Many mobile pressure-washing companies turn to government contacts to make money. It is very easy to acquire such municipal contracts for cleaning, as the government needs some cleaning up. Pressure Washing Market Niche Those who are in the pressure washer business should not neglect the Hotel exterior cleaning niche. Many five-star hotels spend significant dollars in making sure that their grounds are meticulously cleaned. Want to Grow Your Business? Make an Irresistible Offer My clients and many of my readers are small and home-based business owners, and one of the biggest struggles they face is getting new customers.Getting new customers is costly and requires a repeated effort. What Happened to the Money and Freedom? Ask anyone trapped in a cubical about their entrepreneurial dream and they will tell you, "I want to own my own business. I'll make more and have more time. Debit and ATM Card Advice for Small Businesses Your business account comes with an ATM, Debit card. Pick a really secret pin number. The Care and Feeding of Your Small Business While I was hard at work last week, an everyday drama was playing out in a hospital room in the next town. My niece was working on presenting me with a new great nephew. Do Your Best; Hire the Rest One of the hidden perks of raising six children is the learning laboratory it provides for the parents. My wife and I have learned how important it is to teach our children to do things for themselves and become problem solvers. Using Holidays to Put Some Extra Cheer in Your Cash Box No matter your age or station in life, we all look forward to holidays. They give us a reason to decorate, celebrate, and most of all, spend. More Rules for Franchising? The FTC- Mighty Federal Trade Commission has unilaterally decided to change the franchise rule. They changes are sure to hurt American business, Franchisors and the over 400,000 Franchisees in the United States today. Building A Business That Works For You Before you want to build your business, you need to know why you are in this business.Many of us entered business as a technician. Fleet Washing Operations Manual Sample Outline In the Truck Washing Business every single type of vehicle is washed differently. If you are going to run a mobile onsite fleet washing business with multiple trucks in multiple cities you will in fact need a comprehensive manual to keep your crews and equipment running at an optimum. Small Business Success Tip: Learn Something New Everyday Your grandfather probably told you to "learn something new everyday". Your grandfather was giving you advice that works for your small business as well as your own education. How to Start a Paper Shredding Business Paper Shredding Business Opportunities are blossoming up everywhere because in recent years, privacy concerns and new policies have forced companies all over the country to invest in paper shredding services. Large corporations and small are in need of shredding services. Starting A Concrete Cleaning Pressure Washer Business Concrete cleaning can be a lucrative business to start. Here are some tips which will help you do it right. 6 Steps to a Successful Medical Spa Expansion According to the American Society for Aesthetic Plastic Surgery, since 1997, nonsurgical procedures have increased by 471 percent. Jeff Russell, CEO of MedSpa Financing, comments "Medical Spas are a natural progression of medical practice expansion, having a medical doctor run them gives them the credibility and public confidence needed for their success. Tips on Setting Up Your Small Business Bank Account One of the first things you will need to set up is a bank account. We recommend a large bank because:They have locations everywhereThey have longer hoursThey will probably buy out your local community bank anywayIf you are an owner/operator of a small business, you will appreciate having a Debit or ATM card for your business. Pressure Washing Heavy Equipment One of the best ways to make money in the pressure washer business is to power wash heavy equipment. It is not necessarily easy work and you will get quite greasy but it is steady work and there is lots of it. What is Business Process Automation? Business Process Automation or BPA for short. This was a buzzword a few years back with anyone and everyone claiming they were experts in this area.
|
| home | site map | articles |
| © 2006 |