In any business, there are down times regardless of the product or service. The emotional roller coaster of the feast or famine ride is not for the faint of heart. So how can you smooth out the volatility in your business? Here's what I do to be cash flow positive when business is slow...
First, a dating story...trust me, it has a point! I once dated a guy who was consistently late. Once, he sent a text at the time of our meeting that he would be 20 minutes late. I had arrived to our date early so ended up waiting for almost half an hour. Other times, he would give more of a heads up on his estimated late arrival time. Needless to say, we only went on less than a handful of dates once I noticed the pattern...among other incompatibilities. Rather than wait around for him to arrive, I would walk around the area...the beach, shopping district, etc. I got so caught up in exploring that he ended up waiting a few minutes for me by the time I circled back to the location of our date. I didn't waste a minute of downtime. The old me would have sat around and read the menu over and over until the date arrived. Instead, I took advantage of the spare time and really enjoyed it! Bringin' it back to being cash flow positive...
1. Take advantage of every single minute when business is slow.
Upgrade offerings, check in with old clients, and up-sell current clients. There are countless ways to use the time to make the most of your current resources in order to build momentum for busy periods.
As in my dating story, don't wait around. Make the most of the downtime. Get so caught up in the creative flow you forget it's a slow period.
Consistent effort adds up! And if we are talking about search engine optimization (SEO) on Pinterest, you'll start seeing the snowball effects soon enough...
2. Set up multiple income streams.
Whether it's passive or active income, millionaires have an average of seven income streams. After all, creating multiple income streams is one of the great keys to wealth.
As in my dating story, I certainly did not date that particular guy exclusively. I went on other dates knowing that there were options. I didn't need to put up with inconsiderate guys who didn't respect my time.
3. Leverage Pinterest to reach your target audience.
Whether you are looking for another side hustle or run a full-time biz, there are countless ways to be cash flow positive when you leverage Pinterest. Not sure how to start?
The possibilities are Pinfinite!
Start with a FREE Pinterest Audit! Whether you are marketing a product, service or simply trying to increase views to your website, this template covers how to optimize your business account to reach your ideal customers.