April signals the start of the new financial tax year here in the UK so I thought it would be good to do a series of mini-blogs on how to inflate your income so that you have the best financial year ever! This first blog tackles the sticky issue of creating consistent cash flow week after week in your business.

A healthy growing business needs a constant flow of income into it… no surprise there I hear you say! Yet when I talk to balloon business owners they regularly tell me that their income comes in peaks and troughs. Busy weeks with plenty of income followed by quiet periods where they wonder if they are going to have enough cash flow to pay the bills.

Does this sound familiar in your business? If it does don’t worry you can fix this…. You just need to take control of your business finances so that moving forward you decide where the income comes from rather than just letting it flow adhoc into the business!

You can do this in 5 simple steps:

  • Decide your annual target. – Everything and every decision you make in your business should start with this target in mind. So make sure you have yours set for the year. It should take into account your profit margins and the salary you want to live your life the way you want to!
  • Plan how and when you are going to bring in the money. – You should have a clear strategy of how you intend to bring in every single penny of the financial target.
  • Plot this throughout the year. – Grab a yearly calendar and plot out your monthly targets and when you are likely to bring in chunks of income.
  • Identify when quiet times and gaps are likely to happen. – Are there any periods of the year where cash flow is likely to cause issues? Knowing them upfront means you can tackle them before they happen!
  • Create a plan to address this and create consistent income. – Now you know where the gaps are what can you do to increase sales and income during this time? Come up with a plan which allows you to plan ahead, maximising the opportunities that will enable you to hit your targets.

Planning ahead and taking control of your finances in your balloon business means you can iron out the headache caused by drops in income in to the business and give you a stable platform to grow your business.

If you want more useful tips to grow your balloon business pop over to the Balloon Biz Academy Community Facebook group where I share lots of great tips and information by clicking on the link at the top of the page or the big pink button below!

🎈Until next time… Stay Amazing! 🎈

Sonia x

About Sonia

In today’s unpredictable world it’s not enough just to make amazing balloons. You also need to know HOW to grow your business.
Having run my own balloon business for over a decade I now help other balloon business owners, just like you, grow thriving and sustainable businesses.

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