I’ve been thinking about worst-case scenarios lately. What if I get sick or something happens that stops me from working? Unpaid invoices could pile up fast.
Anyone here have a solid plan for dealing with business disruptions? I’m curious how others handle this potential risk.
Nah never bothered with plans. Just wing it when stuff happens. Cash gets tight sometimes but it works out.
I keep it simple. Automated invoice reminders are a lifesaver.
For emergencies, I’ve got a trusted colleague who can step in if needed. We have an agreement to cover each other’s backs.
An emergency fund helps me sleep better at night too. Even a small buffer can make a big difference when things go sideways.
Been there, done that. After a close call with burnout last year, I had to rethink my whole setup.
Here’s what I’ve cobbled together:
I’ve also started building a network of other freelancers in my field. We help each other out when things get rough. It’s not foolproof, but it’s way better than my old ‘wing it and hope’ strategy.
The real game-changer? I finally got serious about my health. Regular breaks, exercise, the works. Turns out, preventing burnout is easier than dealing with the fallout.
Still a work in progress, but it’s already saved my bacon a couple times. Worth the effort, trust me.
After a nasty flu knocked me out for two weeks, I learned the hard way about needing a backup plan.
Now I’ve got a simple system in place. My spouse has access to all my business accounts and knows the basics of sending invoices. I keep a list of overdue payments with client contact info in a shared folder.
I also set up auto-reminders for unpaid invoices. They go out automatically even if I’m not around to hit send. It’s saved my butt a few times when life got crazy.
For longer absences, I have an agreement with another local business owner. We cover for each other in emergencies. It’s not perfect, but it gives me some peace of mind.
The key is to have something in place before you need it. Even a basic plan is better than scrambling when you’re already stressed.
Just keep good records and maybe set up auto-reminders for invoices. I don’t bother with fancy plans. If something happens, I’ll deal with it then. No point worrying too much.
Look, emergency plans don’t have to be complicated. I’ve got a basic setup that’s worked for years.
First, automate your invoices. Set up reminders that go out without you lifting a finger. It keeps the cash flowing even if you’re out of commission.
Second, have a backup. I’ve got an agreement with another contractor. We cover each other’s asses if one of us gets laid up. It’s saved me more than once.
Last, keep some cash in reserve. Even a month’s worth of expenses can buy you time to sort things out.
It’s not fancy, but it works. The key is having something in place before you need it. Don’t wait for trouble to hit before you start planning.