I can tell you from experience that the single most important thing to do while running a small upcoming business is save, save, save.This message is more for the guy or girl who is just getting started. It is true that most businesses fail in the first year or two. Trust me, I was almost one of them. In fact I was one of them the first time around.Yes I failed at business. The reason that I failed was the same reason that most fail. We ran out of money. When I first started my company I was very young and I spent every dime that I made. Mostly out of necessity I paid my personal bills, my company bills and what ever was left I spent on the things that I thought I could now afford. Why not? More money more stuff right? Wrong…. Boy was I wrong. After a major equipment failure I had no money saved to repair it so I had to turn down jobs, which meant less money, then no money, then late bills then real disaster. I had to close the doors. Don't let that be you.A wise man and a friend watched me fall to my knees in shame and disappointment. He had told me before that saving for the hard times was imperative, but I thought I was doing good enough to cover any expense.The wise man set me down and explained that I now had to start from the bottom and as much as I hated to admit it, I was at the bottom. The wise man then told me that now I have to start where I am and not where I want to start. That meant being flat broke I needed to bring in an income some how. (Get a job) so I stayed in the industry and talked to the owners and financial advisers of the company.After a year and a half on the job I was able to save the money to repair my equipment and catch up on the bills. During my time on the job I put back as much as I could to survive at least three months with no income. That was cutting it close but I was eager to start my company again so off I went.This time I was prepared with the knowledge of savings. Thankfully my company started supporting itself immediately and I had the 3 months savings to fall back on, but I continued to save, save, save, and with in the next year I saved enough to survive 6 or 7 months with no income and when I hurt my back I was glad that I did. After 2 months of not being able to work I still bounced back with no financial back lash.Of course there are many ways to make that money work for you as well but the message is to try to save enough money to last 3-6 months and/or cover your most expensive possible loss that will shut you down.Good luckTony Moore
http://www.dallascarpetcleaning.biz/index.html
Good luck and have fun.
Keyword : small business success,business success,small business,loosing money,earning money,save money
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