It is the end of the month and I cannot afford a business coach. What are my options?

17 July 2018

If you have reached the end of the month and find that you do not have any money, there will be a reason for this. You cannot ignore this problem. And so, the only way to deal with it is to take immediate action to rectify it.

What are the possible reasons I don’t have much money at the end of the month?

Poor book keeping. Business owners are very busy people and don’t always have time to properly track client invoices. As such. This can cause missed payment which is why an invoice system should be in place. This will fix cash flow problems and outline outstanding bills.

Debt. Avoid debt by having a strong credit control system. Helping you keep up to date with book keeping. This could be as basic as setting reminders of when payment is due. Or when debtors are needed. Some clients may require a credit check against them. If poor credit exists, ask for a deposit.

Mis-aligned credit terms. Ensure the credit terms of your customers are similar to suppliers. If not, cash flow issues can occur. This can be resolved by negotiating with he supplier. However, you could borrow short term to clear the invoice. Or offer an early settlement discount for early invoice payment.


Profit issues. It is possible for business to survive without profit for a time due to having sufficient cash. However, this will eventually run out. If this is the case, identify/address the issue immediately. This can be achieved by increasing prices, more sales or controlling expenditure more tightly.

Poor cash flow forecasting. Cash flow forecasts allow you to identify deficits or surpluses. And will show how much money is needed to survive. Compare actual with forecasted and investigate resulting discrepancies. This can be due to increased spend on utility bills.

Too quick growth. Too quick growth can be damaging for a business. For situations when you need money, you could take out a short-term loan. Once the client has been paid, the loan can then be re-imbursed. And you only have to pay interest over the period the cash is required.


How have I helped business owners who believed they couldn’t afford my services?

I worked with a business owner who believed that she couldn’t afford my services. However, after working with me, she managed to increase sales revenue and take on an additional two staff members. And all of this was achieved in the space of only five weeks. Call me today to see how I can help.

Key Takeaways

In this post, we have outlined the issue which can occur when a business decides not to utilise the services of a business coach due to the financial position at the end of the month. There are a number of reasons why a business could be experiencing this. Our advice is:

  • Ensure your book keeping is always up to date
  • Keep a close eye on debt and un-paid invoices
  • Review credit terms with your suppliers
  • Make sure that profit always remains healthy
  • Ensure that you have a cash flow forecast for the entire year
  • Only consider growth if your financial situation can support it

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