Wed 23 Aug 2006
If business operated on an even keel day in and day out, everyone would be a business owner and there'd be very little challenge.
That's not the way it works. Business comes with peaks and valleys and if you are a sole proprietor (which means your personal finances and your business finances are the same) those peaks and valleys can seem very extreme.
A couple ways to get through the peaks and valleys include:
- Getting a line of credit to help you through the financial tough times.
- Find a mentor who can help you through the emotional peaks and valleys.
- Anticipate peaks and valleys based on your records and try to eliminate them with pre-pay discounts (if applicable).
- Create a new line of products or find a new use for your current product that runs counter to the cycle your current line is on.