Conventional wisdom says that lack of capital is a big cause of business failure. However, lack of capital may be the MAIN REASON why small businesses SUCCEED. Sounds like a paradox.
Businesses flush with capital through a loan or grant or similar circumstance often spend on unneeded items or overspend on the basics. Owners take excessive vacations, leave early or live the high life without actually having achieved anything as of yet.
In the beginning, small business entrepreneurs work long hours, often 6 or 7 days a week, and watch their spending. Therefore, they develop an appreciation for earned capital. This translates into prudent and wise expansion and growth.
Instead of waiting for loans, backing or other initial capital infusions, a budding entrepreneur takes what they have to start with, and roll up their sleeves and they get going.
Small business and entrepreneurs are the backbone of the American economy having in many cases started with little or nothing and have built a thriving and successful company.
Related carpet cleaning business information on the Bane-Clene® web site:
- Before You Finance
- Building Your Own Carpet Cleaning Business
- Cash Flow in the Carpet Cleaning Business
- Four Characteristics of a Successful Person
- The 15 Factors of Success
- Twenty Steps to Success
- What makes a company successful
Thank you for reading Bane's Blog.
The Bane-Clene® Team