Build a cash buffer of three months' fixed costs before anything else

Most small businesses don't fail because they run out of customers. They fail because they run out of cash. Add up your fixed monthly costs: rent, wages, software, finance payments, insurance. Open a separate savings account and move a set percentage of every invoice you're paid into it, even if it's only 5%. Only when it covers three months of fixed costs should you pay yourself extra or reinvest. A slow month, a late-paying client or a surprise bill then becomes an inconvenience rather than a crisis.