Flows and colorings are disparate concepts in graph algorithms -- the former is tractable while the latter is intractable. Tutte introduced the concept of nowhere-zero flows to unify these two concepts. Jaeger showed that nowhere-zero flows are equivalent to cut-balanced orientations. Motivated by connections between nowhere-zero flows, cut-balanced orientations, Nash-Williams' well-balanced orientations, and postman problems, we study optimization versions of nowhere-zero flows and cut-balanced orientations. Given a bidirected graph with asymmetric costs on two orientations of each edge, we study the min cost nowhere-zero $k$-flow problem and min cost $k$-cut-balanced orientation problem. We show that both problems are NP-hard to approximate within any finite factor. Given the strong inapproximability result, we design bicriteria approximations for both problems: we obtain a $(6,6)$-approximation to the min cost nowhere-zero $k$-flow and a $(k,6)$-approximation to the min cost $k$-cut-balanced orientation. For the case of symmetric costs (where the costs of both orientations are the same for every edge), we show that the nowhere-zero $k$-flow problem remains NP-hard and admits a $3$-approximation.