While dreaming ‘big’ is not a bad idea at all, we must remember who and where we are and what our limitations may be if any. It’s a simple matter of what is doable and what isn’t. So starting right out at the basics of our business plan – two critical resources are time and money.
It is all too easy to consider ‘funny money’ (credit) when you are determining how much you can squeeze out of your budget for your business each month. This however is a bad idea. Not just because you are paying interest on that money but because you have to pay the bill each month and then that is in addition to whatever it is that you charged. This adds up and all too often we can lose control – even with the best intentions of paying the full balance each month.
Do some simple math. Look at your income, versus your expenses to live. Whatever is left over would be what you have to work with. You will be very surprised though if your business is your first priority