Like many aspiring entrepreneurs, you may have decided to break free of your job to live your dream of working from home. You’re ready to seize the opportunity for freedom, unlimited earning potential and chance to live your life exactly the way you want.
One of the biggest challenges you will face during the first two years will revolve around cash flow and money management.
In order to give yourself the best chance possible of surviving the first two years so you can thrive from that point on, it’s imperative that you achieve mastery in five areas:
1.Gain control over your spending today
2.Create a personal and business budget
3.Increase your financial IQ
4.Explore sources of capital
5.Think like a successful business owner
First things first. Gain control over your spending today – Honestly evaluate your spending habits and identify where your money is going. Are you living beyond your means and buying things you don’t really need?
In The Millionaire Next Door, by Thomas J. Stanley and William D. Danko, a focus group interview of ten first generation millionaires revealed that most...
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