If you don’t have a savings reserve already it can be really scary. It is probably keeping you up at night worrying if you will be able to cover your expenses and keeping your fingers crossed that all sales go thru.I have been thru that and hope to never get to that place again as it turns my stomach in knots just to think about it. I recommend starting with a goal of 1 month worth of payroll and 1 month rent saved and then working yourself up to 10-30% of annual revenue saved. ( That gives you 3-6 months worth of expenses saved!) There are many ways that can help you build your savings reserve. First, you should open a bank account dedicated to holding your reserves ( savings account i recommend). The account should be used only for this purpose.
Next, look for ways to reduce your expenses.The easiest way to do this is to audit your statements and analyze each expense. You will most likely find many costs that can be reduced or even eliminated completely.
For example, one great way to cut costs is to do price comparison with different vendors. When you probably started your merchant processor started you with a higher rate due to not having any sales to prove how much you are processing. I would actually recommend that you add it to your calendar and make it a point to review your expenses annually for better rates.
But there are other more proactive ways to generate money to set aside for your reserve:
Profit- first method (use Sales-Profit= Expenses Formula)
Auto saving a small amount daily or weekly depending on your sales volume
Get a points credit card ( only if you feel comfortable paying it off and not having an outstanding balance at the end of each month)
Create a passive income stream and allocate all of that money to your cash reserve fund. ( Maybe you have an extra room or basement that you do not use which you can rent out)