If a business is going to be successful over the long haul, it must be self-suffcient. Is yours?
It is thrilling to have a business that is self-sufficient and self-supporting. To get your business that way, pay attention to the details. When most entrepreneurs dream of owning a business, they dream about having a business that at a minimum, provides sufficient income to support itself. The dream is that the business will provide sufficient income so the entrepreneur does not have to work for another business. A business does not become self-sufficient and self-supporting by accident. If you want your business to be self-sufficient and provide you with support, you must learn to pay attention to the details.
When a business is new, it is common for the entrepreneur to contribute equipment and cash to the business on a regular basis. Many entrepreneurs work a job in addition to running their businesses in the early years because the business is not self-supporting. As the business matures and grows more successful, it becomes self-supporting and instead of the entrepreneur putting money into the business, the business is able to give the entrepreneur money. One important step in moving from a new business in need of cash infusions on a regular basis to mature a mature business that is able to support an entrepreneur, paying attention to the details.
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