Early Cash Flow – The Secret to Business Success

by Ed Martin

Lots of new businesses fail because the owners don’t take into account how long it takes to start bringing in any money at all, let alone enough dough to keep themselves and their business going. Why does this happen?

The Problem – Too Much Time

New and even experienced business owners often don’t realize that there can be quite a delay from the time when they first come up with a product idea, have it developed, tested and then launch it. No matter how much time you estimate, expect it to take longer.
Then on top of that comes the time it takes to actually start producing some revenue.
And it is not just businesses with products for sale. Even a service business or an on-line content provider can go through a lengthy development and launch phase. Especially if they want to do it right. Tossing up a slapdash website isn’t the road to riches, either. It is going to take some time.

The Solution – Throw Yourself a Lifeline

What does your business do for cash in the meantime so you stay afloat? Try these lifesaver ideas:

  • Consider selling a simpler or a beta version of your product or service until the final version is ready.
  • Look for some other work you can take on from someone else.
  • Do some freelance or outsourced projects to generate some cash.
  • Consider what other products or services you could resell.

This work might not be what you really want to do and might not make a lot of money, but it can bring in cash that you need to keep your business running in its early days.

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You can always contact me at MicroBizMadeSimple.

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