{"id":22642,"date":"2020-02-04T08:00:00","date_gmt":"2020-02-04T13:00:00","guid":{"rendered":"https:\/\/honeybook.site.strattic.io\/?p=22642"},"modified":"2022-11-29T02:52:45","modified_gmt":"2022-11-29T10:52:45","slug":"5-easy-cash-flow-strategies","status":"publish","type":"post","link":"https:\/\/hbb.dev.reliablepenguin.com\/blog\/5-easy-cash-flow-strategies","title":{"rendered":"5 Easy Cash-Flow Strategies Without Stressing Over Spreadsheets"},"content":{"rendered":"\n

Think back to when you first started your small business. Whether it was five months ago or five years, I bet your decision to start your own business came from your love of the creative work, not the desire to manage a small business or cash-flow strategies.<\/p>\n\n\n\n

People with a passion for the work they do\ndon\u2019t always have the business acumen that is needed to run a successful,\nprofitable, and in-it-for-the-long-haul business. And that can cause some\nserious stress. <\/p>\n\n\n\n

Even those who are successful and profitable might feel creeping anxiety about what they don\u2019t know, over whether they can afford to grow, or what might happen during the next slow season. <\/p>\n\n\n\n

Small Business Cash-Flow Strategies<\/strong><\/h2>\n\n\n\n

Fear not! With these five profit-focused cash-flow strategies, you can get a handle on your business\u2019 money without having to learn accounting. <\/p>\n\n\n\n

\"5
Photo by Katie Harp<\/a> on Unsplash<\/a><\/figcaption><\/figure>\n\n\n\n

1. Give every dollar a job.  <\/strong><\/h3>\n\n\n\n

Start by knowing exactly how you\u2019re currently spending your money.<\/p>\n\n\n\n

What are your monthly overhead expenses? How much do you need to spend on the average project you offer or the items you sell? How much do you want to pay yourself, not just to survive but to put some aside for vacation, retirement, and emergencies?<\/p>\n\n\n\n

2. Give every dollar a home.<\/strong><\/h3>\n\n\n\n

Now that you know how you want to use your money, separate your funds so you can easily see how much you have just by checking your bank balance.<\/p>\n\n\n\n

Then, open up separate bank accounts (and, yes, most banks will do this if you ask) for each of the different money \u201cjobs\u201d \u2014 that is, their purpose and reason for being.<\/p>\n\n\n\n

You should have at least five different bank accounts: <\/strong><\/p>\n\n\n\n