If your business has its lean periods, how would you manage your cash flow during the dry spells?

Seasonal businesses like Christmas parols, Valentine flowers, New Year’s fireworks and Holy Week travel has its lean months.  All of them have entrepreneurs and businesspersons behind them who surf the lean and peak seasons with panache and when successful triumph with a steady cash flow.

Always remember to have a kitty fund for the extra cash you will accumulate during the peak season, so it will cover what expenses you have during the lean months.  For some businesses who get their income mostly during New Year and Christmas holidays, they focus their attention to other services.  For example, tying-up with other businesses or giving out discounts and endorsements during the lean months.

Hiring contractual employees only during the peak months is also a wise investment.  You get a few part-time workers on your side only when you need them, thus augmenting your core staff and relieving hectic pressure.

Proper cash management is making sure that you live within your means.  Budgeting everything is the key to maintaining your cash flow.  Keeping these things in mind is a surefire way to manage your seasonal business as well.