Business- THE CHIEF STRATEGIST WAY!
This week, we’d take a look at start-up capital.
You’d ask, how much do I need to get started with business?
The amount of cash you will need will differ for different businesses. For example a home based business started part time may only require some naira while large business need millions of naira to get started.
So, by effectively calculating your startup costs, and likely operating losses early on, you can decide on the amount of cash you need or will need.
Once you know how much cash your business needs, you’ll need to determine where that cash will come from.
Typically, business owners start with available cash and then build a plan around that cash. This sometimes works but only if the available cash is enough to get it through.
Remember, cash is a critical element to business success. A shortage of cash can cripple a business; increase the chances of making unwise decisions like: committing to an inexpensive but poor location or failing to invest in advertising and other important things that get the cash flowing in.
In subsequent series we’d focus on the calculating initial start-up capital you require; where and how to source cash for your initial capital.
I’d see you next week BHG!
For a Moment With Ope’ tune in to Telegram Channel: @MWO
Follow on Twitter @OpeOsiyemi ; Follow on IG: @OpeOsiyemi
For update and complete content experience Visit Blog @: http://www.opeosiyemi.wordpress.com
People | Insurance | Sustainable Value
Rewarding Q2, 2016 it is still.
Have a Productive Week. Good morning!