13 Jun What To Do When The Money Dries Up
What steps do you take when your bank balance is shockingly low? Here’s how to survive the situation so you not only come out of it in one piece, but you come out on top.
The first action, I recommend, is to allow yourself to panic for a moment as this is a normal and natural reaction to a stressful situation.
The second action step is to step back for a moment and ask yourself an all-important question, “What is the true cause of this financial drought?” You need this information immediately if you are to determine efficiency and effectively the strategies you need to shift out of this challenging situation NOW. You have no time, energy or resources to waste.
The third step is willing to be open-minded what the core cause may be. For example, it may be subconscious. No matter what level of success you achieve, the solo-entrepreneurial spirit within constantly rears its head to ‘nudge’ you to take the next step in your success. So no matter how comfortable you’ve become, the essence of your entrepreneurial self is keen to get moving again. Often this ‘nudge’ arrives in a way that gets your attention and there is nothing like business shifting into an unexpected drought to wake you up!
Alternatively, you may unearth a practical problem. Maybe your pricing strategy needs a shakeup. Are your terms too generous? Do you need to start taking a deposit up front?
The final action is to ask yourself: “Now I know what the core cause of the financial drought is, what strategies do I need to put in place in order to achieve the next level of success?” The strategies will begin to arrive at your awareness daily as you are nudged forward by that motivated solo-entrepreneur spirit of yours.