How to Create Consistent Income with Lara Sheldrake
In this episode, we’re tackling one of the biggest challenges freelancers face: managing cash flow when income is unpredictable. How do you stay afloat during a slow month? What’s the best way to deal with late payments? And how can you create a more stable income without burning out?
Joining Emilie Bellet is Lara Sheldrake—entrepreneur, community builder, and founder of Found & Flourish. Lara shares her personal strategies for staying financially steady in a freelance world: from tracking income and ghost spending, to diversifying revenue and planning for quieter months.
We talk about setting realistic income goals, structuring your week with a CEO day, and working with your energy—not against it.
You can listen (37 min) and subscribe here:
Now available on: Apple Podcasts | Spotify | Podlink
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Key Takeaways:
1. Inconsistent income is the biggest challenge, and it happens to everyone
“You can go from, you know, making it rain and it being like a really good month or quarter, and you're like, yes, finally nailed it, suddenly to find yourself in the summer holidays or really like dry, quiet patch of business.”
Whether it's a dip in memberships or two clients dropping off at once, Lara explains that even seasoned founders deal with income ups and downs. The solution? Know your minimum monthly needs and create multiple revenue streams.
2. Get clear on what you need to survive — and then get smart
“What the bare minimum is that we need on a monthly basis to survive to pay the bills, and then kind of getting really smart about where else can we be bringing money in from?”
From creating packages to exploring your “zone of genius”, Lara recommends building offers that align with what you do best and what people actually need.
3. Late payments are common — but you can reduce them
“I always have 15 day payment terms. I've negotiated that with really big companies. I've negotiated that with the government.”
Set your expectations early — in contracts and invoices — and don’t be afraid to ask for shorter payment terms, even with big organisations.
4. don’t delay sending invoices
“Another trap I see people fall into is not actually sending their invoices on time.”
Set up automatic reminders via your accounting software, and make sure you don’t delay sending invoices. Lara notes this is especially common for neurodivergent founders — awareness is the first step to changing the pattern.
5. Add Late Fees to Show You Mean Business
“Have late payment fees attached. So that might be a percentage or it might be for every day this payment is late, we will charge £25.”
Including late fees in your contract signals that you take your business seriously. It won’t solve every problem, but it reinforces clear boundaries and helps deter long delays.
6. Get Paid Before the Work Starts
“I charge 50% upfront for a lot of my consultancy.”
Upfront payments aren't just for big projects. Lara suggests using tools like Calendly to take payment at the time of booking — or requesting 50% before starting any custom work. It helps ease cash flow and avoids awkward chasing later.
7. Track Your Income in the Way That Works for You
“If you're better handwritten, pen and paper, then do that. Google sheets, Notion, all sorts of ways to do that.”
There’s no ‘perfect’ system. Whether it's a fancy platform or a messy notebook, use a method that suits your brain. Lara uses both FreeAgent and spreadsheets to stay on top of income, invoices, and forecasts.
8. Diversify with intention — and follow your energy
"What are they doing when they're in a state of flow? What are they doing that comes really naturally to them?"
Your most aligned work is often your most profitable. Lara encourages identifying tasks that feel natural and energising — and then building offers around them. That's your “zone of genius,” and it’s the best place to start when diversifying.
9. Use AI — or Invent a Finance Team — to Ease the Admin
“Use it as an assistant. So good for tracking, good for drafting, follow up emails, chasing clients and stuff like that.”
AI can help chase payments and write follow-up emails. Or get creative — Lara shares a tip from a mentor who pretends to be their own finance department to make payment chasing feel less personal.
10. If the Business Feels Off, It’s Time to Recalibrate
“I realised that actually all I needed to do was bring the business up to the level that I was at.”
Your business should grow with you. If it starts to feel misaligned or draining, it might be time to pause and reassess. Lara shares how taking time to reflect helped her evolve the business instead of shutting it down.
Final Thoughts
Freelance income will always ebb and flow — but with the right mindset and systems, it doesn’t have to feel like a constant struggle. Lara Sheldrake’s approach is both practical and personal: track your numbers in a way that makes sense to you, lean into work that energises you, and create income streams that reflect your values, not just your skills. Most importantly, remember to pause regularly, check in with yourself, and adjust course when needed.
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