How To Start & Grow Your Business With Little Money
The following succinct tips and suggestions will enable your
endeavors to launch and grow a new business:
Cash flow is most important as it�s your oxygen. If it stops flowing
for more than a brief period of time you�re dead. Obviously you must
focus on cash flow. Your profit, market share, or anything else is
secondary. One key to success � be very realistic when projecting
Barter should play a role in your company�s operational efforts.
Methodical planning and execution of your trading efforts will
generate additional cash flow, as barter purchases are made for
needed products and services.
Postpone any and every purchase by sharing /bartering office space,
supplies and equipment. The more time you have before making a
purchase the more time to ascertain what the best deal is, as well
as clarifying your needs. (And remember, technology purchases tend
to drop over time.)
Use credit for (as) cash, not capital expenditures. Borrow money
only to manage short-term gaps in cash flow. Don�t borrow money for
large expenditures. You may have to personally guarantee those
loans, which is how entrepreneurs end up in personal bankruptcy
rather than just closing the business and moving on.
Sell direct and focus on building close relationships. Manage your
growth, make your customers your top priority. (Happy customers can
be your most effective advertising.) And don�t sell or promise what
you can�t deliver. Additionally, focus on establishing relationships
to support your growth before you need them.
Remember what business you�re in, you�re not in the business of
lending money � so don�t. Get a payment, even a partial, upfront
whenever possible. Make it your policy and be clear about it upfront
Be prudent, don�t gamble what you can�t afford to lose. Betting the
entire company on one opportunity is gambling.
Don�t hire any paid employees until profits enable you to pay them.
Consider finding people who will work for equity or at least a