23 | How to Create Consistency With Fluctuating Cash Flow

Putting financial systems in place for where you desire to be long term should be a priority whether you’re a seasoned entrepreneur or just starting out with your business. Fluctuating income can bring with it a feast or famine cycle, but I promise you can break free from that. I want you to be able to create consistency with your cash flow so that you can have predictability in your income and achieve all of your goals and desires. Today, I’m walking you through the process of knowing your numbers, creating a business spending plan, and nailing down your expenses and your paycheck. I’m also talking about the importance of keeping your personal and business finances separate and making sure that you regularly evaluate and adjust your numbers as your business grows. In this episode, you’ll learn... The feast or famine cycle that comes with inconsistent income [01:51] How to shift how you think about money in your business [03:55] Why you need to treat your business as an entity that can support itself [04:50] Treating your money the same way regardless of how much you bring in [06:11] The importance of keeping your personal and business accounts separate [07:06] Why you have to know your numbers when setting up systems [11:18] About creating a business spending plan [13:37] About breaking your expenses down to a monthly basis so you have a clear picture of your spending [15:51] Why you should keep your expenses at 30% (or lower) of your income [17:11] How to determine your paycheck when accounting for expenses, savings, and taxes [20:21] Why it’s important to regularly evaluate and adjust your numbers [22:49] Tune in to this episode to learn how creating consistency with your money will bring you freedom and flexibility in your business. Get full show notes and the episode transcript: https://wealthovernow.com/how-to-create-consistency-with-fluctuating-cash-flow