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<h3>What you’ll learn: </h3>


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<li>Why taking time off is extra important for freelancers</li>
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<li>How to vacation without hurting your cash flow or disrupting growth goals</li>
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<li>Ways Hopscotch can help your business succeed even when you’re OOO</li>
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We all need to step away from work and focus on our personal lives from time to time. That might mean spending time with family and friends on summer getaways, gathering for annual traditions like holiday parties and potluck meals, or just slowing down to recharge on a random long weekend.


But for freelancers and small business owners, taking time off isn’t simple. Clocking out has repercussions. This doesn’t mean you should plan to grind through without a break. Far from it! You just need a plan.


Below, we&#8217;ll cover some simple strategies for supercharging your cash flow before heading OOO as well as operational best practices for freelancers and small business owners before any vacation. Use our tips and checklist if you want to really unplug and recharge on your time off.


<h2>How to supercharge cash flow before taking time off</h2>


It’s hard not to feel tethered to your email inbox. Unlike salaried employees, most freelancers and small business owners don’t get paid if they don’t work. And when you’re solely responsible for bringing money in the door, your work is never done! Even if you’re not actively diving in on a specific project, you’re usually busy lining up new opportunities or running other parts of your business.


That’s why it’s so important to find ways to proactively pump up your cash flow before the holidays so you have a bit of breathing room. Here are 7 tips to sustain your revenue through downtime.


<h3>01. Remind clients of outstanding balances </h3>


If you have clients with outstanding balances, reach out to them ahead of when you plan to be OOO. This is one of the easiest tactics for turning your cash flow to turbo, as it’s collecting on invoices you’re already owed! Ideally, you want to collect all overdue payments before you log off.


This might seem like a no-brainer, but it’s an easy admin task to overlook (or even subconsciously avoid.) We get it—reminding people to pay you is awkward!


One way to avoid getting into this predicament is to amend your payment terms so you get partial payment upfront. The rest of your fee can be paid upon delivery of the goods/services you’re providing. Another pro tip? <a href="https://gohopscotch.com/">Use an invoicing platform that automatically reminds your clients when their payment is overdue.</a> That way the pressure isn’t all on your shoulders.


<h3>02. Plan ahead to create a safety net </h3>


Getting a bite on past-due payments is one way to plan ahead for time off. But if you want to plan even further in advance, you can also add a savings goal to your yearly budget. Building up your savings throughout the year can provide a safety net to fall back on when things slow down seasonally.


If you want something that’s more immediate, you can also take advantage of receivable financing products like <a href="https://gohopscotch.com/hopscotch-flow/">Hopscotch Flow</a>. Flow gives small businesses and freelancers on-demand access to revenue tied up in outstanding invoices, so you can get paid early and bank that revenue when you need it most.


This can be an easy, no-strings-attached way to ensure you have enough cash to cover your expenses whenever you’re planning to take some time off. It’s also a good alternative for anyone who doesn’t want to risk making a good client relationship awkward by asking about slightly overdue payments—Flow is totally discreet and your clients won’t be notified when you use it.


<h3>03. Develop a quarterly forecast</h3>


If you’re nervous about taking time off, you’re not alone! One way to combat that anxiety is by doing some simple revenue planning and workload forecasting before you head offline. Take time to set up meetings in advance or even begin initial conversations around renewing contracts and lining up your next client or project.


If you know you’ll hit the ground running when you&#8217;re back in office, you’ll be in a better position to relax and enjoy your time off—not to mention, making clear plans in advance and even getting scopes of work outlined for the quarter means you’ll consistently have revenue-generating activity in progress.


<h3>04. Frontload projects where possible </h3>


Try to frontload your projects, aka complete as much work as possible before your holiday begins. For example, if you had planned to pick up a one-off project next month, see if you can jumpstart that and get it knocked out before you take your vacay.


Doing a strategic sprint and squeezing in last-minute projects will not only free up your schedule while you&#8217;re away, but it will hopefully also result in getting paid sooner. By submitting the invoices before you take a much-deserved respite, you can rest easy knowing those pending payments will be hitting your account in the near future (ideally around the time you return, refreshed and reenergized!)


<h3>05. Raise your rates </h3>


In addition to frontloading, consider charging an extra fee for any rush projects that have a tight turnaround. Businesses tend to be slammed around seasonal windows like winter holidays and summer holidays. Many clients are likely willing to pay a premium for fast production of quality work.


<a href="https://gohopscotch.com/blog/how-to-handle-price-increase/">Raising your rates can be scary,</a> but accumulating extra money before heading OOO creates a much-needed revenue boost that will sustain your business and minimize the impact of any vacations you decide to take.


If you’re feeling uncertain about how to justify a random price hike, consider this: your rates should accurately reflect the value you’re providing clients. During busy seasons, the value of fast turnarounds on critical projects goes through the roof. If you can deliver on-demand work, you deserve to get compensated accordingly.
When you notify clients of the price increase, remind them of the additional value they’re getting. It’s not an arbitrary decision or a cash grab—instead, it’s a reflection of their investment and your quality of work.


<h3>06. Outsource as needed</h3>


If you&#8217;re worried about what will happen to your revenue while you&#8217;re away, consider <a href="https://gohopscotch.com/blog/is-outsourcing-right-for-your-business/">outsourcing</a> some of your ongoing operational work. You&#8217;ll be secure in the knowledge that at least the admin tasks are still getting done—like answering the phone and responding to urgent email notifications—and you won’t miss out on a really great client opportunity.


Make sure that you outsource to a reputable company or freelancer and set clear communication parameters. For example, you should only be contacted directly if x, y, or z happens. That way you are sure to get the dual benefits of downtime and peace of mind.


<h3>07. Automate your invoicing process</h3>


Setting up a streamlined invoicing process will help you keep things moving even when you&#8217;re not in the office. Not to mention, an automated invoicing process enables you to get paid faster all year round. You won&#8217;t have to create invoices by hand or send payment reminders manually. Less time on busy work means you’ll have more time to focus on generating revenue.


Automated invoicing can also help you keep better track of your finances. Staying organized is key if you want to take vacation time. You should be able to have clear visibility on how much money is coming in and going out of your business, get an accurate sense of your cash flow, and make adjustments based on your upcoming estimated revenue.


Hopscotch makes it possible to pay and get paid in real time with zero transaction fees. Freelancers can reduce their overall costs and get access to money faster.


<h2>Preparing your business for the holidays</h2>


Financial preparation around the holidays is important, but it’s not the only thing freelancers and small business owners need to do before taking time off. Here are a few of the other key priorities to consider:


<h3>Client communication</h3>


Ensure your clients and vendors know you&#8217;ll be away and when they can expect to hear from you. Managing their expectations helps avoid any misunderstandings.


<h3>Project deadlines</h3>


Be realistic about what you can get done before you leave. It&#8217;s better to under-promise and over-deliver than the other way around.


<h3>Scheduling coverage</h3>


If you have a team, make sure everyone is on the same page about who is taking a vacation and when.


<h2>Get your finances in check before heading OOO with Hopscotch</h2>


Preparing for time off doesn&#8217;t have to be stressful. Hopscotch can help you keep your business (and your cash flow) looking strong all year long.


With Hopscotch, you can pay and get paid in real-time with zero fees and control your cash flow with tools like Hopscotch Flow. You can also integrate seamlessly with QuickBooks and automatically reconcile all invoicing and bill pay to your accounting workflow.


Ready to get started? <a href="https://app.gohopscotch.com/register">Create a free account</a> today!

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