Starting a Business
One of the greatest factors in determining the success or failure of a corporation is, of course, cash flow. For an entrepreneur
in the initial steps of incorporating a business or launching a startup, it is critical that he or she determines where this funding is coming from, otherwise everything else could fall apart at the seams.
According to Brad Sugars, a contributor to Entrepreneur magazine, a viable way to secure cash is to ask for a deposit of an item up front - particularly if it has a high value - and then collect the balance once the product is delivered to the consumer.
"You can also add value to generic items by creating private labels and develop continuity programs where customers pay an up-front monthly fee to insure delivery or availability of items they will buy on a repeat basis," Sugars wrote for the source. "Of course, the key is to make sure there is little or no gap between when you pay for labor, stock inventory and when you actually get paid.
It is also essential to keep your costs low, particularly during the early stages. The key is to find a way to bring in more cash than you pay out.
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