Managing an Elevator Cash Flow

By Catherine Franz

Jannice K., a past Virginia resident, now California resident, worked in Burger King for ten years. Back when I was a junk food addict, she passed me the bag and drink through the drive through window. Occasionally, I would go inside to eat. We became friends and soon had regular times together early afternoons during her break. It wasn't long before I discovered Jannice’s real buried passion was grooming dogs. She sparkled whenever the topic came up.

Later Jannice and I worked together to write articles and other materials on her passion. Now, Jannice lives in California, owns three grooming parlors, and is quite, quite well off. During a recent phone conversation she shared how no matter how far she’s come in just the few years, she says she’s never gotten used to living with a fluctuating cash flow.

This is an experience shared by many self-employed individuals.

After living on predictable cash flow, having a variable cash flow can be nerve racking. Even over time, as you grow maturely philosophical about money, knowing that it can be here today and gone tomorrow requires being on your toes. And, in order to transition from toes to flat foot you must learn to integrate a prosperity consciousness in order to survive emotionally. A prosperity transfer means shifting from the perception of scarcity, to being in abundance.

The secret to handling this elevator ride is to get to the point of contentment with who you are and what you are doing, and not have an emotional response to money. This platform, of course, takes discipline and experience. Over time, as you learn and become comfortable with a new way of thinking, you also learn to stay focused, know what "really" matters, stop wasting time, and relax into a set of processes and systems that become the rhythm for your business. This calm approach always accelerates prosperity and, in turn, allows the cash flow elevator to slow down and stop on various floors.

During the fast elevator days, tips always help to remind us to punch the button in order to stop at the next floor. Here are a few tips to help you push the right buttons:

1. Where you focus is what you will attract. If you focus on your surplus, the surplus will grow. If you focus on lack, the lack will grow. Hence, it’s common sense to focus on surplus, wouldn't you say. Learn to see abundance in all that you do, say, and feel. This doesn't mean giving away your services if you are business owner. It means in being in balance with it. Be abundant with your gestures, open the door for a person, it doesn't matter on gender.

When someone takes you to lunch, see that as surplus, the money didn't come out of your pocket. It’s abundance from their life to yours. Yes, the good ole, attitude of gratitude, philosophy is what I'm talking about. It actually is a secret weapon of the wealthy. Again, of course, in balance. This same attitude is available to everyone, including you and I. If it takes fewer muscles to smile, then of course, it takes less energy to be nice.

2. Know what you're worth and be consistent about it. If you take a long lunchtime or spend time browsing the book aisles or Net, associate your hourly rate to this. When you associate time to money consistently in your thinking process, cash flow will follow. With a focus on what "really" matters and you follow that up with massive action, it all begins to sink in. This internal awareness will, of course, again, be attractive.

3. Some is better than none. Partial payments are better than no payments if you can't meet your obligations. Even the telephone and utility companies can cope with partial payments. Send what you can with an explanatory note.

We both know that bill collectors aren't the most compassionate souls. If you deal with them, try not to be defensive nor try to ignore them. Silence isn't golden in this instance. However, you can't let them intimate you or make you feel guilty either -- and they surely will try too. Bring no emotional attachment to their call, conversation, or even after you hang up. This will affect your energy and zap your progress.

Just imagine having one of these a day, and if you do, it’s a-no-wonder why you're feeling drained, unattractive, and not making any money. This spiral emotional ride puts you on the fast elevator ride to the basement.

4. Maintain a list of emergency money generators. These are items that you can use that require little or no planning, either because you have it done or it just doesn't need it, that deliver short-term cash. This is an insurance cash flow list for your business. Everyone needs this whether running a business or not, even if it means unloading boxes at your brother-in-laws warehouse.

If you list a temporary agency, who are they, have you gone over there already and established a relationship. Set up the groundwork so that it’s easy to jump into when "you" need it. Being mindful of all your options, and not mindless, adds to your confidence and ability to manage your cash flow during shortage.

5. Separate emotions from money and separate thoughts of debt that is an investment and debt that is due to irresponsibility. If you are going to operate a business, be accountable, especially if you have employees. People say to me that one of their number goals is to be debt free. If you have a habit of creating irresponsible debt then even when you become debt free it will not last because the mindset and habits didn't change.

Change your attitude and remove the emotions. Separate investment debt from the other. Why wait to be happy, live your life with a debt free mentality now. Most children grow up without understanding money and base their knowledge on emotional expressions they hear from others. Then as adults they are thrust into the world and told, "You're suppose to know better."

Take a class on money management, stop reading the books if they aren't helping. If you already taken a class, hire a money coach. Keep debt manageable and be an responsible adult and business owner. There aren't any excuses for poor money management.

6. Don't spend yourself poor with feast or famine. Don't be tempted to pay off all your old bills and leave yourself impoverished all over again. Your mental health will be stronger if you set aside some money and watch it accumulate. Just knowing you have even the smallest of funds stashed away will lighten your walk and smooth your sleep.

7. Get smart about your money. I mean, SMART. Get Specific, Measure it, be Accountable, make them achievable, Realistic and the Time is now. Our beliefs today have no resemblance to the beliefs of money our parents have, nor will the next generation have with yours. Challenge all the early assumptions you have about money. Challenge them every day until. Do it until you learn to manage it. Do it until it works for you.

Get off the elevator cash flow ride, have less paper, scotch tape, and paper clips around, and put some money away for that rainy day. I don't think either of our grandmothers where wrong on that philosophy.

(c) Copyright 2005, Catherine Franz. All rights reserved.

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