Startups are vastly different from established businesses and mid- to large-size companies. The biggest asset for new entrepreneurs is learning from others in the industry, and one of the biggest mistakes you can make is not doing your research when it comes to startup financing.
Avoid these four common startup finance traps that could cost you your new business. 1. Under or overestimating the amount of cash needed to run the business.Writing a solid business plan can help you create a viable financial plan for your startup. Where most people go wrong is overestimating or underestimating the amount of cash actually needed to keep their business going. Overestimating the amount of cash you need to get started can turn off potential investors and lenders. Whereas, underestimating the amount of cash needed to support your startup can lead to imminent doom. If you are unsure of how to create a business or financial plan, free business mentors at places like SCORE can help you get started. Read Article: https://www.business.com/articles/blair-nicole-startup-finance-traps/ Comments are closed.
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AuthorJoshua Nahas Archives
May 2017
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