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26 December 2014
Christmas Is Over - Where has all the money gone?!!!!!!
Ok, it's the day after Christmas - all the relatives have gone home and everyone loved their presents and the meal you put on for them - you're all refreshed after having a great Christmas night's sleep - then you've jumped online the day after Christmas and checked your bank balance.
Where has all the money gone?!!!!
Is this a familiar story?
Well, you're not alone - many small business owners are confronted with financial stress at this time of year.
The problem is compounded because many of your customers - regardless of whether they are other businesses or consumers - may not be buying your products and/or services for another 4 weeks or so because they are taking time off themselves over this time of the year and are not buying from you.
So, what are you to do?
One solution is to be prepared for these "lean" times of the year and the way you do this is by understanding the "peaks and troughs" of your cashflow - and you do this by becoming more "financially savvy" about your business.
This is why we interviewed Emily Chase Smith of emilychasesmith.com on BookPals Business Sanity.
Emily spent many years as a bankruptcy attorney and knows first hand the pain caused to business owners who do not understand their financials, so she has created products and resources to help business owners become more financially savvy in their business.
If you are struggling with cashflow problems at this time of the year it is well worth listening to this episode of BookPals Business Sanity.