Entrepreneurs, even small ones, often find it difficult to draw a line between their personal and business finances. Each month, make sure to allocate your financial resources — planned revenues and expenses. That which remains is profit, which you do not really have to spend at all. Above all, consider the solutions of the big ones, those who have already sent their businesses to the stars. One of them is Warren Buffett, who came to success, among other things, by following the following simple rules:
Članek je na voljo tudi v slovenščini TUKAJ.
- Do not depend on just one source of income. Invest your money into a business that gives you an additional source of income. An additional product or service can be an additional source of income, or an upgrade of an existing one that brings you fresh money.
- If you buy things that you do not really need, at some stage you will need to start selling the things you do need. Spend smart, not reckless. Buy only what you need.
- Do not just save what you have left over when you’ve spent everything. Spend what you have left over after you have already set aside funds for your future. So, plan well what you need, not just for today, but also what you will need to make your business grow tomorrow. And you with it.
- Certainly this is one of the favorite tips that most smart investors consider — do not place all your eggs in one basket. This means do not just invest in one place, do not invest all of your money into upgrading one functionality of your product, but disperse it over several possible ways of growing your money.