Cash Flow Management: How To Never Run Out Of Money | Back To Basics

Brian Hood (0:00)

This is the 6 Figure Creative Podcast, Episode 254

Welcome to the 6 Figure Creative Podcast, where our mission is to help you turn your creative passions into a stable, reliable income.

If you're in audio, video, design, photography, or really any other creative field, and you just want to learn from other successful creatives, you're in the right place.

Hello, and welcome back to another episode of the 6 Figure Creative Podcast. I'm your host, Brian Hood. And if this is your first time listening to the show, first of all, welcome. Thank you so much for checking out this show.

You are in the right place right now if you are a creative freelancer, you're trying to earn more money from your creative skills, and you want to do it without selling your soul. If that sounds like you, you're in the right spot. For my returning listeners, for returning viewers on YouTube, if you're on YouTube, leave me a comment, just say hi. I love saying hi to you people on YouTube.

Welcome back. I have been on a rabbit hole binge these past few days between episodes. We're up to now, if you haven't been following along, we're up to two episodes a week now. We change things up for the foreseeable future. We'll go back to the once a week cadence eventually. But I've been down a rabbit hole researching mockingbirds. And the reason I've been researching mockingbirds is because every day for the past two years at this house that I live in now, while I'm cooking breakfast, there's a mockingbird that I've named Tom because he's a little peeping Tom sitting on this tree right outside my kitchen window just staring at me. Every morning, 8 a.m. on routine, just like I do every morning, and he's just staring at me. And we've become friends over the years. I talk to him. He probably talks to me. I don't know how this works, but it is what it is. And Tom has stuck it out. Even through miserable cold days through the winter, he just still, every day, he shows up. He's not flying south for the winter, so maybe something's wrong with him. I don't know. But he's been hanging around my neighborhood for two plus years. And we've had our ups and downs. Mockingbirds can be kind of aggressive birds if you don't know that already. They're very territorial. This year, Tom found a mate. I saw him do a little mating dance. Mockingbirds, if you're watching me now, they kind of do this like back and forth, rotating mating dance. And he found his mate, which we call her Barbara.

And they have been building a nest on the corner right by my garage, in this little like pine tree we have outside. It's almost like a little Christmas tree, fern tree or something. And so I'm just learning a lot about like, how long does it take them to build a nest? About four days. How long does it take to incubate the eggs? About 14 days. And right now, Barbara is spinning all days, sitting in her nest, incubating the eggs that she's laid.

And in seven to 14 days, I don't know when they laid the eggs, seven to 14 days, we'll have some new little mockingbird babies right outside of our garage, which is awesome. I also learned that they will build multiple nests, and they will choose which one they actually want to live in, and they will abandon the nest, I think even with eggs in it, if they feel threatened. So I've also been swinging wide of that tree, and not trying to go near it, and just giving them their space, because I don't want Tom and Barbara to have to abandon their little eggs that they've already laid. So that's the little weird rabbit hole binge that I've gone down these past few days, and I'm happy for Tom, so congrats to Tom and Barbara. I'll update the podcast whenever those little babies are born. So anyways, mockingbirds and bird watching is not the topic of the show today. Today's episode is about cashflow management. Kind of the promise I make you for this episode is if you follow what I talk about in this episode, you will not run out of money, in most cases.

The whole goal of good cashflow management is just never running out of money as a freelancer. And there's a quote that I love, and it is, businesses don't fail, they simply run out of money. There's a study or some sort of thing that's cited by Business Insider, but they say 82% of small businesses fail because of cashflow issues. That just means they run out of money. And just because you run out of money doesn't really even mean that your business is bad.