CPA secret for growing business success: acquiring more business capital could help get you ahead. Having more financial resources may feel like a good thing, since you can use it to invest in your business. But, if you don’t need it, or don’t use it strategically, it can be a major liability. We can help you decide if acquiring more business capital is right for you. See how Capstone CPA Group can help.
So, this is part two of this post sequence. In part one, I talked about how not planning ahead for capitalization of your business can kill your dreams. Having a very distinct plan for cash and cash flow is very important for a new business. But, in part two we are going to focus more on the psychological change that you have to go through when starting your business.
But, surprisingly I agree with item #3 the most: Do you have the humility and willingness to do it all? This is one factor that I think most aspiring entrepreneurs take for granted. Can you operate your business effectively with limited/non-existent resources? While at the same time being able to envision goals for you and your business? While blocking out all the noise that surrounds your business/personal life?
So I ask you, what question do you agree with on this list? Or what question do you wish you had asked yourself before starting your business?
Check out the full article here.
Sometimes, other people come up with great articles that really make you think. I just read an article titled: Five questions to ask yourself before starting your business. I find that items number two and three are very true. Having enough business capital is very important (big surprise that the CPA feels this way).
It is very hard to plan your exit strategy (presumably from a former job) and new business strategy in such a way as to have enough money/credit available to start your business. While trying to keep your own personal finances in order. While there are a lot of rules of thumb out there. What strategy did you use when starting your new business, regarding business capital?
Also, what important questions did you answer before starting your own business?
Check out the full article here.