The Risk-Averse Entrepreneur’s Guide to Startup Success

1. Know how you’ll fund it. There are many costs to starting a business, even if it’s an online one. Do you have money saved up, or access to a credit line you could tap? Will you work a side job? Get relatives to help you? Have a strategy for how you will pay for business expenses.

2. Be realistic about ramp time. Even with a simple business idea, expect it will be at least six months to a year before the business starts throwing off enough cash to support you. Know how you will cover your living expenses until then.

3. Keep overhead low. See how you could start getting sales before paying rent on a big retail store. Try a kiosk, direct sales, e-commerce or even renting space within an existing store.


Via Scoop.ithuman being in – perfección

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