How To Build Cash Flow In Your Business: 5 Easy Ways To Stack More Cash

"Cash is King", or so my old boss used to say. I thought it was an old-time kitschy catch phrase. 

But it's true. 

Starting my business in 2021 I was a business novice. I knew the theory (gone to grad school, got the degree) but in practice it was VERY different. 

I started out selling a high ticket coaching package called Burnt Out To Badass. It was successful and I had many clients in that time, but I didn't realize what I was setting myself up for. 

Eventually I would blow a tire. 

My income looked like the Colorado Rocky Mountains: up down up down then followed by long periods of nothing. That is, until you get to the Sierra Nevadas. 

I attribute my cash flow situation to a foundational misunderstanding of a core concept of running a business: 

Revenue does not equal cash flow.

Revenue = total money made.

Cash flow = money inflows (eg. sales, royalties, affiliate $) - money outflows (eg. tax, wages, expenses).

You can either reduce your expenses - it is good idea to audit expenses regularly, but it's not super fun. 

OR

You can think creatively to get more money flowing into your bank account!! 

(I much prefer the second option)

If you ever plan to sell your business, then you want to spend some time thinking about your cash flow situation. 

If you ever want to make your business last more than a few years, then you want to spend some time thinking about your cash flow situation. 

If you ever want to have fun in your business, then you want to spend some time thinking about your cash flow situation. 

Cash flow will determine how you invest in your business, and ultimately, in yourself. 

A lack of cash flow shows up in a few ways: 

👻 Inconsistent monthly income (this was me!)

👻 Not enough money to pay bills

👻 Anxiety for the business owner

👻 Pressure and scarcity mindset when trying to make the next sale 

Which is all VERY uncool and not at all in flow with the Universe. 

Cash flow issues can stall your engine when you're just about to get crazy momentum. 

Here are a few ways to give it a little gas and roll the throttle on your cash flow:

🏍 Deposits: Start taking deposits on your services so you get money NOW not later. This worked really well for me when I started taking deposits for my high ticket offer because clients wanted to save a spot on my calendar months in advance. 

🏍 Recurring revenue: You could charge monthly for a service or start a subscription-based offering. This is what the gym industry is built on, oh and ever heard of Netflix? 

🏍 Low ticket offer: Create a low barrier offer that is a no brainer for someone to buy. This could be a mini-course or small product that feeds into your larger offers. 

🏍 Upsell: Could you sell a larger ticker offer to someone who is buying your medium priced thing? Think McDonald's "would you like fries with that?"

🏍 Be your own PR agent: Telling people about your business is THE way to get more clients/sales and earn more cash. 

Check out this video on 5 easy how ways to create cash flow in your business. 

When I started releasing the clutch on my cash flow strategies, it lead to the biggest cash flow period in my business ever. 

Which goes to show that a few creative strategies can lead to big changes in your business and help you upshift into higher gears for the long term. 

Check out my podcast for more business stories and strategies: https://open.spotify.com/show/59YI5SECPNYJVtC92Z7dMT?si=499f5d7acb3f4886