Jackalyn Rainosek PHD - Tips For First-Time Business Owners

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Jackalyn Rainosek

• Tips For First-Time Business Owners

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• The first year or two of owning and operating a
  business are often the most difficult. Jackalyn
  Rainosek, PHD knows that most entrepreneurs will
  be tasked with working long hours to achieve the
  success they desire.
• To ensure that your business survives this
  difficult period of its life, keep all of the
  following in mind.

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Always Understand Your Cash Flow

• Your budget is going to be crucial at every stage
  of your companys life, and it is vitally
  important that you fully understand your finances
  during the first few years. You need to know
  where every penny is going when it comes to
  expenses, in addition to being able to predict
  how your revenue streams will evolve over time.
• Never spend so much that you put yourself in a
  losing position before you have managed to get
  your business off the ground.

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Network

• There is plenty of advice out there for business
  owners and not all of it can be found online. By
  attending networking events you open yourself up
  to the opportunity of meeting fellow business
  owners with whom you can establish relationships
  with.
• Many will be able to offer you plenty of insight
  into business in your local area, while others
  may offer you opportunities that help you grow
  the business.

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Always Deliver

• Jackalyn Rainosek, PHD notes that reputation
  building is vital to the first-time business
  person, so you should always aim to deliver on
  your promises.
• Dont make big claims that you struggle to follow
  through on just to impress other business owners.
  Instead, understand your limitations and work
  within them.