July 2nd 2007 Posted at Entrepreneurship
Comments Off on Managing Business Expansion
Managing your cashflow is one of the more difficult challenges entrepreneurs face. Most start-ups done have the necessary capital to aggressively grow. One way to do that is to look into Unsecured Business Lines of Credit, Loans, and Credit Cards.
The right business credit line will allow your business to focus on developing your product (or web site) by handling that short term cash flow crunch you face between bringing your product to market and orders. By extending your working capital you can gain additional resources to market your product or even improve the product.
Cashflow is where most entrepreneurs really fall short. Entrepreneurs are natural risk takers and naturally optimistic. This is both the fatal flaw of an entrepreneur and their strong point – only a natural risk taker who believes in the future of the product would take such a large risk. Optimists that they are, they are often blinded by the uphill battle that product adaption requires. Getting your product in front of people and having them buy it is a far tougher than most entrepreneurs realize. They assume that their customers will love their product as much as they do.
The reality is that most entrepreneurs simply don’t manage this part of the process well. They always assume that the orders are going to come flowing in immediately after they launch the product. The truth of the matter is that if you don’t proactively manage your cash flow and find the right partner for your business line of credit then you will find yourself coming up short. With the right business partner you can proactively grow your business, expand your business and make over that crucial between product launch and product revenue.
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