We didn't plan a lotus birth, but we had figured our backup midwife would come down shortly after the birth and cut the cord then, so we didn't have stuff ready. Well, we didn't end up needing to call her for quite a while, and we found that we wanted to cut the cord, so DH just used some rubbing alcohol to sterilize a sharp pair of scissors, and we used some dental floss to tie it off. No big deal, didn't take long to get the stuff ready. No problems.
Mama to four: 10, 7, 3, and 1