Today’s AllBusiness.com article in the San Francisco Chronicle has a great headline:
Starting a small business depends more on fortitude than a fortune.
As the column points out, many entrepreneurs start with small sums — often $5,000 or less. This has been true of most of the people I have interviewed to date for my book. So what’s the secret? Read the article for some ideas, which I highlight here:
- Keep your day job (But beware. See my last post, Should You Start First with a Side Business?)
- Work part time (Same caveat)
- Go from two incomes to one income for a time (This assumes your household already has two incomes. Mine didn’t.)
- Turn your employer into a client (I like this. I did this one, although not right away.)
- Get creative about financing – The sidebar to the article has a warning: Don’t rely on credit cards.
[Note: The S.F. Chronicle features The Adviser from AllBusiness.com every Wednesday. In both the print and online – SFGate — editions, it’s in the Business section.]