Never Do This When Starting A Business
95% of businesses will not make money when they first open! Most of them wonβt make money for years!
This might be obvious for experienced entrepreneurs, but for those who just started a business, this becomes a number one mistake β starting with not enough money!
You must have enough money to survive the first months or years after your business is established. Preferably you need to grow during this period!
Before starting a small business, ask yourself β how many years can you work without getting any money back from your business? Can you last for a year, two, or five years?
Itβs okay not to have all the money at a time. Small business financing is the most obvious way to finance your business. You can try a traditional lender or a non-traditional alternative. You could qualify for a startup grant. Just make sure you got the money.
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