Taking Care of Business (cash flows & taxes)
Do you ever notice how one day can flow into the next, as can the weeks/months/years if you’re not careful? If we’re not mindful, we can get into the drift and ‘check out’ as a slave to a routine and habits we’ve created that may at one time have worked for us but no longer do. As responsible adults who seek to go beyond ‘getting by’ and instead ‘thriving’ in our lives, it makes sense to stop and re-assess what’s working for us and what isn’t periodically. This applies to our own personal health and well being, and that of our business as well. I’ve been running my small business for nearly two decades now.
There are plenty of joys in running your own business — and I can tell you without a doubt that the most challenging aspect of it, in my experience, is managing cash flows and working capital. What do you do when clients make commitments (or suggest that they intend to), but either don’t come through as you had planned or are delayed (sometimes for extended periods)? …
