Starting a Business? How to Get the Ball Rolling When Funds Are Limited

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It’s been said that companies don’t fail due to a lack of profits, they fail due to a lack of cash. It’s so easy when you’re starting up a business to focus entirely on marketing your new product (or service), that you take your eye off cash. It’s a particularly dangerous time because all of your expenses seem necessary, yet you have no (or a very small) income. Inevitably, this can lead to a quick depletion of any cash that you started with.

Worry not. There are some tricks to learn from people who’ve already been down this path.


1. Go it alone
There’s so much to do and not enough time. You certainly have to give yourself and austria phone number resource your business the best possible shot, but does that always mean employing other people to help you?

There’s a great deal you can do to get yourself established before the additional cost (in time, as well as money) of hiring more people.

Primarily, you need to get a sense of what sales volumes are likely to be. No-one will know your products and services better than you to start with, nor will they have the same passion. Meet and speak with as many potential customers as possible. Get a real sense of what you can sell and what the size of the market is for your products. Get genuine feedback on your products and services.

When you’re sure that the market is there and the products and services are right, you can hire with the confidence that the additional cost will be covered by the increased income from sales. And don’t forget, in these early days you may have family and friends who are happy to help out, filling gaps where necessary.