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The true cost of starting a company
Submitted by admin on Sun, 10/18/2009 - 11:09
When people talk about starting a company, they take a lot of things into consideration. One of the main concerns is money, as it should be. There are tremendous costs associated with starting a company. There is the loss of income that comes when you leave your stable job to jump into the startup world. Many people have a difficult time imagining how they are going to make ends meet during the one to three years they are likely to be underemployed at the start-up. Another cost to consider is equipment and facilities, which can also be quite costly. People involved in the startup must have some idea of how they are going to cover these costs. Many people fail to cover another cost that often comes with a start-up: the cost to family, friends, and relationships. The person involved with the startup is usually very excited about what is going on. That does not mean his or her spouse is also excited. Before you decide to move forward with a startup, make sure you have the support of the people you love, and who love you. If you don’t, the startup will take not only a financial toll, but it could also be trouble for your family. If your family is behind you, it gives you a great feeling of freedom to pursue your dreams. |
NavigationIn the News!Investor's Business Daily Article Enhance Your Business With Key Business Mentors To build a business, yo uneed to listen to your gut, defy conventional wisdom and chart your own path. It's often a lonely road. Top entrepreneurs know they won't have all the answers along the way. That's why they seek advice from more seasoned, knowledgeable advisers. Once you find a good mentor, pave the way for a productive sharing of ideas and concerns. Create mutual trust to maximize the relationship, says Naeem Zafar, a lecturer on entrepreneurship at the Hass School of Business at the University of California, Berkeley. To read more view the article on Investor's Business Daily |