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Key Phrase that should be burnt into the brain of anyone thinking of going into business.
If you are saying to yourself things like
I have $5k what business can I try
I have a business idea that I really want to pursue and max resources I can invest are $20k
I’m prepared to risk $10k on this idea
Then ask yourself…..I am really ready financially to even try this.
How do you even know its a profitable business model if you don’t have any detailed forecasts that include costs of setup and ongoing expected profitability?
It might come across as harsh but I see so many people throw away tens of thousands on poorly thought out ideas – I feel duty-bound to encourage you to question yourself and ask……are you ready…..are you serious?