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January 6, 2016

Starting a business: how to survive

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
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