Starting a new business or launching your first business venture is not an easy task. Success in these types of endeavors does not happen overnight. Success for many entrepreneurs means diving in headfirst, putting it all on the line, and giving the venture 100% of your entire focus and attention. This does not necessarily mean investing your total net worth into your company or foregoing a social life. As a rule of thumb, and remember every entrepreneur, venture is different, when investing your own money into your company, you should not invest more than 50% of your net worth. Additionally, if at all possible, do not leave your full-time employment until your business is able to generate revenues at a consistent level to sustain itself. Further, make certain you operate you business separate and apart from everything you do personally. Specifically, open a business bank account to pay business expenses and do not commingle the money in this account with your personal funds. It is important to also set aside enough personal money to survive for at least six months. In the event you do not have enough money to make the initial investment, look for partners, bank loans, venture capitalists, investors, of family that not only believe in the success of your business, but also in you.
The Balance Between Business and Risk
About the Author: FZ
Frame Zeller combines the client service expected from a small firm with the experience and capabilities typically found in larger ones. It is this combination that has established Frame Zeller as a law firm for growing businesses, entrepreneurs, professionals and individuals with special or unique legal needs.