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coaster
Senior Advisor
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quote:
Originally posted by littleroc02us
businesses can be started with cash and a small start up setup. You can start any business in the basement on a card table and grow it slowly.
Yes, but isn't it also true that an overwhelming majority of new small start-ups fail? I don't remember the exact statistic, but it might be up around 90% if my memory isn't too far off-base today. And also it seems I remember that in addition to a lack of a good business plan, the other major factor in small-business failure is inadequate capitalization, which speaks directly to oldguy's point.
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Sat Jul 16, 2011 5:44 pm |
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littleroc02us
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quote:
Originally posted by coaster
quote:
Originally posted by littleroc02us
businesses can be started with cash and a small start up setup. You can start any business in the basement on a card table and grow it slowly.
Yes, but isn't it also true that an overwhelming majority of new small start-ups fail? I don't remember the exact statistic, but it might be up around 90% if my memory isn't too far off-base today. And also it seems I remember that in addition to a lack of a good business plan, the other major factor in small-business failure is inadequate capitalization, which speaks directly to oldguy's point.
I couldn't agree more, but would you rather fail using your own cash and have no debt or fail with a huge amount of debt and a home equity taken out to fund it? I choose #1...
Romans 13:8 “Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.”
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Mon Jul 18, 2011 1:29 pm |
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coaster
Senior Advisor
Cash: $ 1357.20
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Good point, but taking that kind of attitude is kind of negative, I think, and probably not the attitude that a potentially successful entrepreneur is going to have, either. I'm not the entrepreneurial type, but I suspect one of the personality characteristics of that type is to downplay the consequences of failure.
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Tue Jul 19, 2011 6:40 pm |
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