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Smart Strategies To Stretch Your Startup Dollars (cont) - Business - Nairaland

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Smart Strategies To Stretch Your Startup Dollars (cont) by CHIBYKEGLOBAL: 4:33pm On Dec 08, 2016
BE FLEXIBLE
When you created your business plan, you might have envisioned all of the latest office equipment, lavish holiday parties and enough staff to take on big projects. However, not all of those business luxuries are guaranteed. Do not let your ego and vanity get in the way, you want that car or that perfect sign, but it just isn't a good fit for the core of the business. Business owners should always plan for every effort to take longer than expected, whether it's launching a new website, signing up customers, sourcing new products or hiring employees. Make sure you always set aggressive goals, but realize that there will be unexpected terrain on the pathway to success.

EVALUATE AND RE-EVALUATE
After you follow the initial tips to save money and reduce the startup costs of your new business, it's just as important to make sure your expenses stay on track as your business grows. Seek financial advice from accountants and fellow small business owners, and then go over your expenses and try to cut back where you can. Find an accountant that acts as a business adviser, Look at your profit and loss with him or her every month and see if anything is creeping up. Be very conscious of your numbers. As you adjust your budget each month to save money, you'll be able to start investing in bigger, better things for your business. Analyze and think about your long-term goals with your budget then Ask yourself, if I hit this goal, where should my budget go next?

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