How to Improve Cash Flow as a Busy Mumpreneur

In this article, I am sharing FOUR actions that busy mums who are entrepreneurs can take to improve their cash flow.

I also share why these actions matter.

The insights in this article are grounded in my work over the years with ambitious, growth-minded entrepreneurs as a financial scaling coach.

So, if you want to get unstuck and grow your business and your cash flow, continue reading.

4 Actions to Improve Cash Flow

Let’s start with an idea that can have a massive impact on your business.

Action 1 | Focus on Only Profitable Products

The difference between a successful female entrepreneur and others who are barely trying to survive is that a successful entrepreneur knows where to focus her time and energy.

This is even more important if you are an entrepreneur and also a busy mum because you need time and energy for both your business and your kids.

This means you get much less time to work on your business than a usual entrepreneur. So you have to be mindful and strategic about what has your attention.

And within this short time, you want to make sure that you have healthy cash flows and you build an uber profitable business.

How do you do that?

You do it by focusing on your most profitable product i.e. a product that creates income and not just sales.

This works in two ways for you. One, you get more profits by selling less, and two, you don’t have to sacrifice your family time, to make more sales.

But this is not how most female entrepreneurs operate. They keep on doing-doing-doing, month after month serving their clients, sacrificing their time. The time they could have spent instead with their children. Even then most of them have barely any cash left in their bank account.

This happens because they get hung up and believe they need to sell more, get new clients, and end up wasting their time, money, and energy.

To avoid challenges like these focus on ONLY profitable products. The product that provides you the most income by doing less work and hassle and creating more positive cash flow for you.

Action 2 | Systemize Your Business to Focus on cash-generating Activities

Do you feel stuck in your business?

Or think that your business is stuck because you are the bottleneck and want to serve more clients and get more cash flow?

To be able to do it, systemize your business, and focus on getting new high paying clients.

I know, you are an experienced expert who knows how to serve your clients, but you may not know how to run your business.

One essential of running a business that generates cash for you is that you need to clone yourself.

What do I mean by cloning?

By cloning yourself, you bring an operator, who can do most of your job. It releases you from being the bottleneck in your business.

To bring an operator, you need cash flow margins which many female entrepreneurs don’t have because they don’t charge enough.

So, if as a busy mum entrepreneur you want to systemize your business by cloning yourself, charge enough to make hiring the operator viable.

3 | Track Your Incoming and Outgoings

I’m sure you have heard the expression:

“What gets measured, gets done.”

So, track your incomings and outgoings, so that your services/products are generating more cash flow and where you are spending more cash, and are there any leaks?

One of the cash flow mistakes busy mumpreneurs make is not taking this task as a priority. When you are always pressed for time and the list of things to do keeps on piling, and the task of tracking incoming and outgoing is the least thing on your mind.

I believe we never have enough time in our lives to do all the things we want to do or should do.

We just have to prioritize our time, to do what’s more important. In this case, tracking incoming and outgoing.

Action 4 | Get Someone in Your Corner to Help You Reach Your Financial Goal Faster

Another cash flow mistake busy mumpreneurs make is worrying about what people will think of her if she reveals her money situation.

Well, you can’t cure the disease without going to the doctor explaining your circumstances that caused the disease.

It’s the same, when you have a cash flow problem, and you don’t know what the root cause of the problem is, then it’s better to seek help from someone who can help you to find out what you don’t know and can’t see.

Sometime back, a new client approached me. She said, “There’s a dip in my cash flow because I am not getting new sales or new clients.”

When we looked at her cash flow position, I figured that she was not getting new clients, because her marketing wasn’t working.

She had invested in a few channels. One of these was particularly profitable despite generating a small number of leads because the quality of leads that came through this channel was much better than other channels plus the lifetime value of the sales was way higher.

Because she was getting sales from other channels and she didn’t know her most profitable channel, her cash balance started going down and she reached a point where she was not in a position to invest in marketing and had to rely on referrals for getting new clients.

Sometimes, you just need this clarity from someone as an extra pair of eyes to guide you, and your cash flow and business can turn around.

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If you like videos more than words, then I published a video with the same content, you might want to check it out below.