I recently spoke with a new student about his business. Prior to joining our Business School, John experienced a tremendous decrease in revenue.
Despite putting his best face forward, he was stressed and not taking a salary.
He was worried – as anyone would be – about how to rebuild and get his cash flow back to where it used to be.
After listening to him and learning more about his business, I realized that his cash flow situation is actually really common among entrepreneurs at all levels, one that most business owners and entrepreneurs have dealt with at one time or another.
How do you increase your cash flow now?? Today I’d like to share with you John’s story and the solution I gave him to inject a business with cash, now. Here it is:
There are many reasons for a reduction in cash. John’s revenue decreased because he, for lack of a better term, had put all of his eggs in one basket by putting his major focus on just one big client. And when that happens, when one of your clients provides you with the bulk of your business’ income, losing them, or having them greatly reduce their contract, means trouble.
For some, it can even mean crisis.
Unless, you have a plan!
In today’s short five-minute video, I show you how to quickly recoup your cash flow, no matter if you’re making $8,000, $80,000 or $800,000 a year.
Once you’ve watched the video, my question for you today is: what will you do more of that worked to initially land your best clients and what will you stop doing right now to make room for increasing your cash flow?
I can’t wait to read your comments below.
Sending you lots of love,
P.S. Didn’t want to say goodbye for today without thanking you for all the well wishes on my TEDx Talk last week! I was overwhelmed with your love and support. The video of my 18-minute session on Activating Your Potential for Greatness isn’t up on TED.com yet, but I promise to let you know the minute it is! Enjoy and have a great weekend! In the meantime, you can watch this video to help you get ahead in reaching your business potential.You rock. xoxo