Startup Small Business
Henry of Goldbeck Recruting speaks to Small Business Startups
“The easiest thing to do in business and life is spend money. Everyone on all sides wants us to spend our money. Most business fail due to being undercapitalized. So be very careful with your budgeting and what you spend. Discretionary spending should be as near zero as possible until you have a positive cash flow. Borrowed office space, used furniture, and focus on customer facing and asking for business are a few ways to save and spend less when starting out.
For larger businesses, it is often a tightrope, raising enough funds to start and operate the business until it is self sustaining. I have never been through that experience but have a ton of respect for those who have. Many businesses have failed due to lack of funds raised at crucial times or just barely scraped past a crisis point with just enough cash to get through by the skin of their teeth and then gone on to huge success.”