I’ve talked about it many times. You CANNOT start a business with no money. Why? Your time is money. It has value and you must invest time to get a business off the ground.
There are also other ‘unavoidable’ costs that come when growing, marketing and establishing your business. Check out this VLOG titled How Much StartUp Money Do You Need? where I run down a list of costs you can expect at different stages of your business.
BTW: Having business expenses isn’t a bad thing. It means you’re growing, generating revenue and building a business (mindset shift!)
But, wasting money or making mistakes that cost in your business are more painful. Definitely not a good thing. We can, however, minimize the risk of costly mistakes.
Check out the full video, or click to a time that grabs your attention.
02:10 One Way To Look At Business Expenses
03:56 Research (Learn as much as you CAN)
11:23 Talk To The Competition
13:10 The ONLY Mistake I made When I Talked To The Competition
19:31 You Have To Know...What It Is Your Doing, Who Are you Serving and What Your Business Is All About
21:43 Avoid That Cart Before The Horse Syndrome