How to Build Buffers to Create Business Resilience

We’re living in uncertain times – how often have you heard the word ‘unprecedented’ bounded around in the last 2-years??!!

The next challenge is the threat of a recession which is being fuelled by the media. There’s a lot of doom and gloom and it can feel really scary. But there are opportunities to create resilience for your holistic business, and weather any storms that come your way.

Building buffers are a great way to build sustainability into your business and secure it for the future. They’re not just financial, there are also non-financial buffers that help minimise the stress caused by unforeseen circumstances. The type of buffers you pick is unique to you and your situation.

If you often find yourself late, don’t have time for a project, have no money and have no clients booked in – these times massively increase your stress levels and affect your health and well-being.

Reacting to a situation by firefighting isn’t sustainable. By building in a buffer, it will lessen or shield the impact of something. It won’t be the answer to every challenge you face, but it will certainly make life easier.

Non-Financial Buffers

Create buffers for the areas of your business where you feel overwhelmed or guilty – being organised can help to take the pressure off and provide capacity for your priorities. For example, produce your marketing in advance, or build a contingency (time or budget) into a project to give you breathing space, or allow extra time for a journey to account for delays or parking.

A pipeline of work booked into your business will help remove the feast-and-famine aspect of working as a practitioner. This may be projects, workshops, paid work – anything that provides work stability and is planned in advance. 

Financial Buffers

Having financial buffers will help you stop working from a place of scarcity. A few months' money in the bank will allow you to relax and provide the best service possible for your clients and give you the confidence that you’re in control of your business.

 Below are examples of ways you can generate extra income for your business:

• Sell off items that are no longer needed
• Open your diary up for more appointments
• Get a job or other paid work
• Attract different income streams – new products, affiliate products, project work

Create a Plan

Identify the situations where you could benefit from having buffers in place. Think about the times when you feel stressed and overwhelmed, or when you spend your time worrying or feeling guilty.  These are the ideal situations to take the pressure off yourself with buffers.

Pick one or two of the areas you’ve identified - don’t try to do everything in one go. Think about how you can build in a buffer to help you get through the situation.

Some ideas could be:

• Batch cook food so that you have your meals ready for the week
• Save time in the morning by sorting out your clothes the evening before
• Get a part-time job to provide you with a regular income while you build your business
• Allow extra time for journeys in case there are delays
• Include a time and budget contingency to a project to give you space if needed

We live in an unpredictable world and often unforeseen circumstances can catch us off guard. We don’t have a crystal ball, the only thing we can expect - is the unexpected! Buffers will provide you with ‘wiggle room’ and build your resilience in unforeseen circumstances.

If you’re struggling to find clients and thrive in your holistic business, let’s have a chat about how I can help you.