Unlock the Untold Secrets to Bulletproof Money Management Every New Entrepreneur Needs to Know Before They Fail
Keeping your fixed costs low gives you more room to breathe in the beginning. If you can run the business without hiring too fast or locking into big expenses, you’ll be better positioned to adjust when things don’t go as planned. Treat your first version of the business like a test run and use it to gather real data. That’s what you’ll use to make smarter financial calls over time.
Separate your money early on
You don’t need to wait until your business is profitable to set up separate accounts. Mixing personal and business finances makes it harder to see what’s really going on. Open a business checking account as soon as you can and use it for all incoming and outgoing funds. That way, even if you’re just a one-person team, you’ll still have a clear trail of where the money’s going.
Post Comment