Tips to help you survive in a small business
- Develop a business plan, remember customer needs, the competition, pricing, marketing and promotional strategies.
- Hire professionals to help you along, accountants, bookkeepers, and lawyers
- Learn to understand financials, and cash management
- Track your inventory you sell to your customers
- Plan every part of your business from start to finish.
- Know your market, offer products unique or competitive
- Never underestimate your expenses, or over estimate your income.
- Cash reserves are handy to have when your having a slow period, you still will have fixed cost. Line of Credit is an option