Bankrolling Your Business
CNN had an interesting story today on just how much money it takes to start your own business. The consensus? About $10k, and most of it comes out of a business owner's pocket. This raises some very interesting points.
1. Before you start your own business - make sure you have at least $10k put aside
2. Don't rely on your credit cards to get the ball rolling, if your business doesn't take off in its first year, you could be hurting.
3. Consider putting together a cooperative to help spread the costs of your start-up around a few friends. Just make sure all the ground rules are clear to avoid any future problems.
In the general scheme, $10k isn't a lot of money. But it can come close to breaking you if you're not ready. Of course, every business is different, and some may cost more or less, but this does give us a guideline on what to expect.
1. Before you start your own business - make sure you have at least $10k put aside
2. Don't rely on your credit cards to get the ball rolling, if your business doesn't take off in its first year, you could be hurting.
3. Consider putting together a cooperative to help spread the costs of your start-up around a few friends. Just make sure all the ground rules are clear to avoid any future problems.
In the general scheme, $10k isn't a lot of money. But it can come close to breaking you if you're not ready. Of course, every business is different, and some may cost more or less, but this does give us a guideline on what to expect.
posted by Commerce in General | 1:25 PM
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