Source of income – grow more than one!
It is crucial in managing start up business that once you have established your independent source of business income, you don’t take it for granted. It needs constant care and attention to maintain and grow it.
Regular income is the foundation of family wealth building. That is why positive cash flow is critically important. Negative cash flow means negative wealth because you have to dip into your saving or credit card to make ends meet.
So don’t stop at one! It helps to have more than one source of income. It also helps a lot to have at least one source of income that doesn’t rely totally on your personal exertion to earn.
In other words, strive towards establishing a source of “money while you sleep”. That way, you can take a holiday or afford time out of your business if you are sick or have an accident.
For more reading on managing start up business go to https://garyweigh.com/business-building-%e2%80%93-make-your-own-luck.html
Until next time