Been running my one-person shop for a while now, but I’m still struggling with predicting cash flow. Some months are feast, others famine. How do you all handle forecasting when your income is as unpredictable as the weather?
I’ve tried spreadsheets, but they always seem off. There’s got to be a better way, right?
I just wing it usually. Got a notepad for jobs and money. Nothing fancy but it works for me.
Spreadsheets are hit or miss for me too. I just keep a simple notebook with jobs and payments. It’s not perfect, but it helps me see what’s coming in and going out without too much fuss.
I feel you on the cash flow rollercoaster. It’s a wild ride sometimes.
Here’s what I do to keep my head above water:
Use a basic app
I ditched the complicated spreadsheets and found a simple budgeting app. It does the math for me and shows trends over time.
Set aside a percentage
Every time I get paid, I squirrel away a chunk. It’s my safety net for those lean months.
Track repeat clients
I keep an eye on which clients come back regularly. Helps me guess when I might hear from them again.
Plan for slow periods
I know summer’s usually quiet, so I try to save extra in spring.
Review and adjust
Every few months, I look at what actually happened vs what I predicted. Helps me get better at guessing.
It’s not perfect, but it keeps me from panicking when things get tight. And hey, sometimes those surprise windfalls make up for the rough patches.
I’ve been doing this for years, and here’s what works:
Keep it simple. Use a basic spreadsheet or notebook to track jobs and payments. No need for fancy software.
Look at your past year. You’ll see patterns like slow months and busy times. Use that to plan ahead.
For expenses, list the regulars like rent and supplies. Then add 15-20% extra for unexpected stuff.
Always keep some cash stashed away. It’s a lifesaver when things get tight.
Remember, no system’s perfect. You’ll still get surprised sometimes. But having a rough idea is better than flying blind.
The longer you’re in business, the better you’ll get at predicting. Just keep at it.
I’ve been there, Noah. Forecasting can be a real headache when you’re flying solo.
What’s worked for me is a mix of past data and gut feeling. I keep a basic spreadsheet with my last year’s income, broken down by month. It helps me spot patterns - like slow summers or busy holiday seasons.
For expenses, I list out the regulars - rent, subscriptions, supplies. Then I add about 20% extra for those ‘surprises’ that always pop up.
I also started tracking where my clients come from. Helps me see which marketing efforts actually pay off.
It’s not perfect, but it’s way better than guessing. And honestly, some months still catch me off guard. That’s why I always keep a bit of cash stashed away for those lean times.
Remember, forecasting gets easier with time. The longer you’re in business, the more data you have to work with.