Fluctuating cash flow is like weather; it's unpredictable but you can prepare. Here's how to weatherproof your business finances:
- Establish an emergency fund. Set aside a cash reserve to cushion against sudden drops in income.
- Monitor cash flow regularly. Use forecasting tools to anticipate and plan for potential shortfalls.
- Diversify income streams. Create multiple revenue channels to reduce reliance on any single source.
How do you handle financial unpredictability? Share your strategies.