Writings |
|||
Life lessons |
 |
||
|
Saturday, December 12, 2009
Things I learned from last time I started a small business: 1. Build your infrastructure as needed. Don't jump right into double - ledger accounting if this is your first time. Do everything in an Excel spreadsheet, then grow into a more complicated system as your business needs it. 2. Keep track of the pennies as they're consumed. Even if you really don't need to know that on trip X out to see a client you spent 1.50 on parking, that will make you more aware of and careful with your margins. 3. The goal is not to be profitable. The goal is to be 15 - 20% or more profitable, even in a bad-case scenario. If you have that as your planning goal, you'll probably at least stay afloat if things don't match your plans. - Chris 11:57 AM [+] Comments:
|
Post a Comment