Start-up businesses are famously risky endeavors. With so much riding on your first year, you really need to perform at your very best, optimizing your performance with the resources you have at your disposal, in order to make it out of the woods and into the world of established businesses. Many start-ups fail in their first year, and that’s often due to simple errors that are easily avoided given the right advice. While the guide below is by no means comprehensive, it does provide some insights about what to look out for in order not only to survive your first year in business – but to thrive in it.
The biggest flaw in start-up businesses is the financial management aspect. Plenty of start-ups fold in their first year because founders and CEOs were simply too ambitious to recognize that they might run into cash-flow issues if they fail to hit their monthly and quarterly targets.
The tips here are two-fold: you should always begin your start-up with some considerable funding behind you, in order to bolster your business, and allow for the right injection of …read more
Read more here:: How to Nail Your First Year as a Start-up