Moonlighting Entrepreneur: Cash Flow Issues

by Trish

Everyone’s got this problem. You’re owed money, but you’ve got bills to pay and the cash flow seems to trickle the wrong way constantly (i.e., never your way).

What do you do?

1. Contact old clients and see if they’ve got work.
I can always rustle up something by contacting clients I haven’t heard from in a while. Just send a check-in email, and mention you’re scheduling now for fall and winter projects. Invite them to get in while the schedule looks good.

2. Make some cold calls. You can cold call. Just pick up the phone and leave some voicemails. This is the hard one, but it works.

3. Hit Craigslist. Their jobs listings are pretty insane. You never know if you’re going to hit a gold mine or a cheat, but I find gold all the time on there. Just search with your skill set (writer, programmer, designer) and see what you come up with.

4. Try to defer payments. Sometimes you can defer your payments until the cash flow widens, so check out your options.

5. Cut spending. And the good old standby. Just cut the spending. Quit buying supplies, training materials, books, cancel the fancy cable television, don’t eat out, whatever it takes. In early 2007, we cut our cable off and haven’t ever looked back. Well, I called just this week to price ESPN for hubby, but changed my mind when I heard the prices. Forget it, we’ll go to a live game, or just find a restaurant with college football playing. Then we can enjoy a meal at the same time.

Hopefully this list helps you to break out of your no cash flow pothole. Any other ideas from anyone?

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