Is Your Cash Flow Not Doing What You Want It To?

July 21st, 2010

Cash flow is the life blood of any successful business, and the downfall of any failing one.

Yet, because many contribution-minded healers and coaches have absorbed the societal belief that service and wealth don’t mix, the topic of cash flow is often treated like the proverbial elephant in the middle of the room - taboo to talk about.

I’m not going to ask you to send me your tax returns (we’ll leave a little mystery in our relationship, shall we?), but I am going to ask you to stand up and take one step forward if your cash flow is NOT meeting your expectations at the moment.

OK, now that that’s out in the open, we can do something about it.

Here’s the deal - Your cash flow is a reflection of your relationship with money. And as my own business mentor likes to say: Money loves to be paid attention to. And it will get our attention one way or the other!

So if your cash flow isn’t doing what you want it to (in other words, increasing), the good news is it’s a wake up call for you to start paying some loving attention to your income streams and your business choices.

To help you prime your cash flow pump, here are 3 of my best tips:

Cash Flow Tip #1: Invest in Your Business Growth

A huge mistake many service-based business owners make is to think, “Well, since I don’t have a brick and mortar store or any inventory to buy, I can grow my business on a shoestring.” Not so. NO business can grow and thrive unless you are willing to invest in it – wisely.

You need to be thoughtful about where you’re choosing to invest, but you can’t expect money to flow in if you’re not letting it flow out. We both know the Universe doesn’t work in that one-sided sort of way. So even if you’re just starting out, at a minimum, you’d do well to invest $200-500 each month in business-building resources (and if you’re above the $40,000 mark, I’d recommend at least 25-30% of your income). These can and should be mentors, team members, and immediately relevant continuing education opportunities. Those are the investments that will bring a return and jump start your cash flow.

Cash Flow Tip #2 – Plug Your Money Leaks

Money leaks represent “unfinished” business you may have around money, and they are a primary source for keeping your cash flow to a trickle. Plugging them can include everything from updating old beliefs like, “I have to work hard to make money,” to collecting outstanding invoices from clients or vendors, to tracking income and expenses daily, to creating a debt-payoff plan.

Money is a form of energy. When you give it positive attention and clean up the “messy” spots, it will immediately cause your own energy to lighten, and will increase the flow from a trickle to a cascade.

Cash Flow Tip #3 – Implement Quickly

Every spirit-rich entrepreneur I know is a life-long learner. But unless you put that learning into action (and the quicker the better), it can be a major source of cash flow decline. First because you’re spending money to purchase the books, workshops and trainings. But even beyond that, it’s a financial loss because your newly discovered ideas and plans simply cannot create income for you when they only exist on paper or in your head.

Investing in new learning and support is a great way to get your creative juices flowing, but putting it into action is what gets the income flowing! My suggestion? Pick one idea you’ve been “thinking about” and get the support you need to implement it in the next 2 weeks.

When You Pay Attention to Your C.ash Flow in Positive Ways, It Opens Up the Floodgates

Money is mirror for our ideas about self worth and value. And your cash flow is the current evidence being shown in that mirror. Give your cash flow a loving kick in the pants with one (or all!) of my tips and see how quickly the flow changes direction for the better.

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Entry Filed under: Heart-based Selling Tips