My day started well. How about you?
- Janet emailed me about the €6290 she wanted to send me if I gave her my ID and bank details.
- Dave awarded me a free website revision if I sent him my password.
- And Heidi proposed some personal services provided she didn’t have to wear any clothing.
This wouldn’t have happened 20 years ago. Don’t tell me that life isn’t improving.
The Grinch, also known as Google, advised this generosity was not entirely kosher. I felt so guilty, turning down such bountiful offers. But, I hit the “Delete Forever” button to talk to you about the fallout of being locked at home.
During the past 28 years, I’ve asked thousands of people to explore different approaches to earn more cash. Their primary motivation for not doing so has been, not enough time. That excuse blew out the window three weeks ago.
If ever the cosmos wanted your focus, they now have it. You might still try to divert your attention elsewhere. This is not an opportunity knocking at your door. This is the universe kicking it down and saying makeover time.
This small-business-myth by which we’ve lived has been trashed.
If we were real small-business owners, we could switch our engines off during this time. This might be a government-imposed lockdown. But what if it were not? What if our own sudden illness or accident keeps us away from work?
The real problem we face is that there is no cash inside most small businesses. We are all frail. And we are not alone, so don’t feel guilty.
- USA statistics show one-quarter of all small businesses can’t survive 15 days without cash.
- Another quarter can’t survive 27 days without cash.
- In total, about 90% of small firms can’t survive for three months.
And yet here we are, blaming the government and the banks because we can’t survive a few weeks. Maybe we haven’t run our businesses as well as we should?
Cashflow is to a business what oxygen-flow is to a human. And yet there is always something else to do, first.
I remember the father of one of my school mates stashed toilet-rolls in his ceiling. We could not understand this back then. But I recently started to stash canned goods up there. You never know when the rinderpest will next visit.
Right now we have an excellent excuse to look at where (and when) our cash comes from. And where (and when) it goes out. And why we face cash-flow challenges almost every month. And why our businesses will never be the same again.
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