Don’t Start A Business Until You Read This

If You Can Expect Failure, Maybe You Can Beat It

The Start of Your Business

One thing to expect when you start your business is that, the first couple of years you aren’t the one getting paid, your employees are.

One way to make sure your employees always get paid is by using a 13 Week Cash Flow. This shows you the money that goes in and out of your business each week. When you know ahead of time how much money is going in and out of the business, you can better prepare to make sure all your employees get paid on time.

Who You Choose

Business and money make people do crazy things. Be careful with who you choose to do business with because even if they are your friend, money can manipulate them. Always be aware and track your finances closely.

No matter how much you trust someone, always write a contract. This will give you control and security no matter what happens.

Remember the best predictor of future behavior is past behavior. Do a background check, were they a top performer at their old job, did other employees enjoy working with them, etc.

When the Bank Holds All Your Cash

Some banks or payment processors have the power to shut off transactions and hold all assets of the business hostage for a period of time. This is a common occurrence for a lot of businesses, so here is what you need to do:

Make sure you diversify your bank accounts and payment processors.

Read the Fine Print. Can they do this to you, how often can they do this to you, what can you do about it?

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