How Scary is Your Cash Flow?
I’ve heard from a few designers lately that their cash flow is very low right now. Why is that? There are many reasons:
- There was some time in the past that your marketing was happening inconsistently. You may not see the immediate effect of not marketing consistently – it always shows up months later.
- You’re not on Page 1 of Google or the other search engines. If you’re not blogging, and if your site isn’t keyword optimized, those factors can affect your visibility on the Internet. You also need to be sure your content is fresh and that you update your website frequently with new photos that have “Alt-tags” meaning keywords that you’re most known for in your market – for example, “Denver Kitchens.”
- You’re not planning your project start dates and cash receipts so that you spread out your cash flow so you always have enough money in the bank. For example – are you predicting when your projects will start and when you’ll be receiving payments from your clients for products and services? Do you know when money will be going out to pay for the products and services?
Cash flow planning is scary if you don’t do it regularly. For example, if you know that you have business booked through December, but January looks bleak (and it is April), then start working now to find jobs to fill the pipeline.