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In my prior life I spent a number of years making loans to small businesses. The start-up businesses had the most risk and getting loans for start-ups required collateral such as one's home and/or a second income from a spouse.
Regardless of the type of business and the perceived ease as how it can be done, there is always a learning curve that one has to pay tution (i.e. cash operating losses). Typically, the learning curve is around 2 years.
One should always have cash beyond what is expected in starting the business.
Understanding the local markets demand and supply for any service/product is real tricky.
Regardless of the type of business and the perceived ease as how it can be done, there is always a learning curve that one has to pay tution (i.e. cash operating losses). Typically, the learning curve is around 2 years.
One should always have cash beyond what is expected in starting the business.
Understanding the local markets demand and supply for any service/product is real tricky.
