Search Results for: blog coping with a loss or drop in business income

Pay Business Bills On Time Too

You might be thinking that personal finance and business finance are two completely different worlds. Well, there are some big differences and it might take some time to learn how to do your business bookkeeping and accounting, or you may choose to hire a professional to help keep you on track. Still, there are some basics that are the same for both. Keep in mind that your business can have a credit record too (or your business accounting can affect your personal credit record and financial reputation) and it is important to pay your business bills on time too… If … Continue reading →

You Are the Money–Taking Charge of Your Business Income

Many of us are drawn to entrepreneurialism and running our own home businesses because we want autonomy; we want to be in charge of our own destiny and our own income. After a while, the reality of all the things we cannot control may get to us and we may forget that we really are in charge of our own business revenue… In a traditional job, we go to work for someone else and we agree to do x, y, and z tasks in return for a certain amount of money. But, I am of the opinion that even in … Continue reading →

Coping With a Loss or Drop in Business Income

It would be lovely if we were in a constant upward trajectory in our home businesses and each month, quarter, or year our income just went up and up and up. But, unfortunately, the world of business just doesn’t work that way. For a person who is used to getting a steady paycheck or salary that is regularly adjusted for cost-of-living increases, the fluctuation of cash flow in a home business can be a tough pill to swallow. It can take some adjustment to regroup when there is a loss or dip in income. Planning can help, and preparing for … Continue reading →

Too Much Flexibility Could Keep the Customers Away

Flexibility, change and the ability to adjust on a dime are hallmarks of a home business. Many of us are drawn to this type of work because we crave and need to be able to meet the needs of our families and others AND work and generate income at the same time. BUT, too much flexibility can make it hard for customers to find us and stick with us. Customers want to know what sort of service they will get, the hours to reach us, and how we will follow through on orders and service. If we make too many … Continue reading →

Planning for Seamless Transitions

Whether you have just started your home business, or have been at it for a few years—you no doubt know by now that the one sure thing you can count on is change. While you can plan for some of the more predictable changes, some catch us by surprise. Still, with a little planning, we can get through times of transition with some ease and smoothness… There really aren’t any “tricks” for getting through changes and transitions without incidence—part of it has to do with attitude (are you accepting the impending change or fighting it every step of the way?) … Continue reading →