Wednesday, November 6, 2024
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Nine Things That will Destroy Your Business

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Spending Lavishly

This is obvious. Any entrepreneur will tell you that running a small business especially in the first 5 years is feast of famine. You may have a great first quarter but the second quarter may be dismal and if you don##Q##t have savings to make up for the lack of business, you will stress yourself out unnecessarily. That##Q##s why people go on vacations once or twice or three times a year, NOT every month. In addition, once you consider what you may be paying on interest for that new luxury car it may behoove you to see what it would cost you to buy it in cash or used from a private owner who is experiencing financial difficulties because he or she, I don##Q##t know, SPENT MONEY THEY DIDN##Q##T HAVE? You can also get a car for damn near 1/3 the price at an auction or you can save a lot of money by buying it from a credit union. Those thousands of dollars would serve you much better in your bank account than going to the car dealer who is charging you a ridiculours interest rate because you have a small business. We can have those luxuries AND have backup funding which is ALWAYS needed if we must spend WISELY instead of LAVISHLY

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