Show me the money
Run small, look big.
Know thyself
Know your break-even and your overhead before you plan your profit. If your 'overhead' requires you to work 30 hours a day to turn a profit then you need to rethink your business venture. Never, ever use the 'head-in-sand' approach to business. No, it won't just fix itself and 'what you don't know won't hurt you' never leads to success in business.
Always look for ways to save your hard-earned revenue. Ask for the early-pay discount with suppliers, don't hire for a job you are an expert in (likewise, don't take on a job you're not qualified for) - put your revenue into offering the very best quality service or product - that's where you'll achieve success.
Running a business isn't for everyone. Before taking the leap to full-time business ownership have a realistic conversation with yourself. Are you mentally, physically and especially financially prepared for the task? If you the answer is yes - dive in! There is nothing more rewarding than knowing you believed in yourself.
Summer 2017 pei-living.ca
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