MODERN BUSINESS
cover your regular living expenses,
you have nothing to invest in
keeping the business afloat, either.
So your business fails, your dream
dies and you’re back working for
someone else before you know it.
Don’t be that guy. Start out slow,
working only after-hours or on
weekends to get your business up
and running. This allows you to
keep the income flowing while you
explore giving your business a fulltime go.
3. Have backup capital.
As I pointed out in the previous
step, once you quit your day job,
you’re working without a net – a
safety net of income, that is – to
fall back on during that transitional
period when your business isn’t
generating enough (or any) income
to sustain you. I can’t tell you
how important it is to have some
backup capital to rely on during the
slow times. Otherwise, you may be
tempted to take out loans and get
yourself further in debt – or just
let your business fold all together
and go back to the corporate world.
Save every penny you can and be
very sure you have the means to
support yourself until your business
is able to do it for