Many of us have been thrust into the unexpected juggle of schooling children at home, dealing with partners now working from home, concerns about health for loved ones and trying to keep up with all the ‘rules’. It’s been a rough ride!

All of these things can add fuel to the feeling of being out of control and overwhelmed. But I want to make an important distinction here. There is a difference between feeling out of control and a situation that is out of your control. You can do something about feeling out of control that makes dealing with situation that is out of your control easier (not easy, just easier).

If you’re feeling out of control financially due to a decrease in income that affects your ability to make your business and personal commitments, then let’s focus in on what practical steps you can take to deal with your current situation and then what you can do to be prepared to be financially strong when you come out the other side.

If you can, I strongly recommend that you keep trading. This will help maintain your credit rating (even if you feel as though you can’t meet your current obligations) as well as your visibility. Whether you have a bricks and mortar or online business, doing everything you can to stay at the forefront of your clients’ minds will mean that when things get back to normal, you’ll be first on their purchase list!

Here are some practical ways that you can regain financial control of your business.

Review your cashflow

I recommend your review to cover the next 3 months to take you to the end of the financial year. Look at what income is owing to you (invoices that have already been spent), work that has been booked (income that you expect to receive) and then your expenses that must be met (rent, IT expenses, wages).

Highlight expenses that are not essential to maintaining your business so you can consider whether to drop these entirely.

Make up the shortfalls

Where are your expenses greater than your anticipated income? Let’s be proactive and make a plan on how to deal with this shortfall. Speak to your bank or landlord or apply for one of the many Government assistance packages for businesses.

Have a look at if there are other lower cost alternatives for your expenses. It may be time to review your insurance policies or other recurring expenses that often get automatically renewed on a yearly basis.

On the flipside, what income can you make quickly and easily? Could you create a course, cut out some pieces of your packages to make them cheaper or even discount your product or service in the short term to increase your income?

Think about your VIP package or product bundles. As an example, I have broken down my end to end process into smaller packages that you can purchase as needed.


What happens if you decrease your prices but as a result increase sales? Using a spreadsheet that allows you to see what happens when you change a variable is a great tool. It will allow you to see the different scenarios and make an informed decision.

Take care of your health

Whilst I’m here to support you on your financial journey, it’s also important to me that you look after you. Yes, there are options for you to continue trading but if it’s just too hard then take a break. Speak with your partner about what you need to maintain your business and mental health. There’s no point pushing to the point of breaking.

I thrive on helping women in business understand and take back control of their financial situation. If you need help with feeling in control then grab my Financial Audit – a service designed to help you identify the changes you can make within the five financial pillars of your business. Sign up here to receive a 50% discount on the usual price of $247.