Money Matters: Starting a Business on a Budget

Is money holding you back from starting your own business? Are the failures of others scaring you off from investing in your future? Starting a business from scratch may seem like a financial nightmare, but it doesnt have to be. There are manythings you can do to make sure you get the most out of your money.

First. Budget: I cant stress how important this is, and Im not just talking about a business budget. Every penny you save from your daily expenses can go into your business. If that means staying in, eating cheaply, and not buying that new CD or DVD, then so be it. If you want to succeed, you have to make sacrifices. Keep strict accounts of everything you spend, and eliminate any waste or frivolity. You can go back to champagne when your business booms.

Second. Dont borrow: Starting a new business is a risky venture. If you dont make it, the last thing you want is to owe someone thousands of dollars. Sinking absolutely everything you have into your business may sound scary, but it is far better than borrowing. If youre careful, you can save enough to get started. And just think, when the profits start to pour in, theyre all yours.

Third. Spend wisely: Be realistic about what you need when youre getting started. You probably dont need an office suite in a high rise, or a roomful of expensive office equipment your first year. A spare room in your house can work just as well as an office, and youd be surprised what a good deal you can get on a decent refurbished computer. You can add the fax and scanner as you can afford them.

Fourth, and most important. Dont give up too soon! So many businesses fail because the would be entrepreneur gives up too soon. New businesses take a few months to become profitable, sometimes even longer, so tighten your belt and dig in your heels. Wouldnt it be a shame to walk away from your investment broke, when you could have turned a profit only a few weeks down the line?

So remember, when starting a new business: Budget everything, including your seemingly trivial daily expenses. Stay out of debt by only spending what you can afford to lose. Buy only what you absolutely need. And finally, dont give up. Theres money to be made out there if you know how to do it.

About the Author

Alvin Apple helps everyday people start businesses they will
enjoy. Then he teaches them how to succeed.

To contact and Read all his helpful strategies see details below.
Reach Alvin at 801-253-4535


alvin@drnunley.com
http://AlvinApple.com