Maintain financial discipline. [Photo/masterfile.com] Many people have great business ideas that they would love to implement. The money to turn your dreams into reality is the real challenge. If you are bold enough to start a business with the little capital you have, there are a few things to do to help with success.
Do not take money out for personal use. Most of the money should go back into the business to increase stock, equipment and the human resource. After your basic needs are met, refrain from other expenses. Or get money to satisfy your personal needs elsewhere. This difficult sacrifice harnesses the discipline to put your business first. This kind of financial discipline drives you to focus on saving. Do not worry about how little you save. You will get surprised when you amass enough to make a change. An amount enough to improve your business substantially. Success in business heavily relies on taking risks. However, at this stage, refrain from drastic financial risks. Since you barely have enough to stay afloat, watch your moves carefully. If your research and calculations do not strongly support you will get value for spending money, do not do it. Be alert for opportunities to boost your business. Even something as simple as significant discount on equipment you need is important at this stage.