How to Deal with “Feast or Famine” Cycles: Start a Side Business

Posted by Caron_Beesley under Strategy
From https://fundbox.com 2962 days ago
Made Hot by: sophia2 on October 1, 2016 1:18 am

Feast or famine cycles can be hugely problematic for small businesses. Instability, worry, and cash flow gaps are just some of the side effects of inconsistent sales and workloads. In my earlier blog, I talked about some immediate fixes you can take to overcome cash flow problems associated with periods of “famine”. Here’s another option— start a side business.

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Comments

Written by tiroberts
2959 days ago

One of the ways to deal with this is invest in passive income streams

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Written by HeatherStone
2959 days ago

Yeah, Caron,

Diversification is the name of the game it seems to me. Big investors do it with their portfolios. Big brands do it by acquiring compatible or even competing brands to diversify their revenue. Small businesses need to learn to do the same. And this is the case not just to take care of seasonal or sporadic income gaps. It CAN be to protect your business long-term in the event of inevitable market shifts.

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