Avoid these too-common errors as you rev up your business.
Not enough money
Many businesses run out of money before the operation really has a chance to get off the ground. It costs money to start, operate, and grow a business. Keep costs low. Dont buy gadgets you dont need. Establish a line of credit with a bank before you need it. Have enough cash available to get you through the lean times. Stretch those dollars.
Trying to do it all yourself
Do what youre good at and delegate everything else. When deciding what to delegate, ask yourself, Is this the best use of my time? Your company will not grow if you attempt to do it all yourself. Hire responsible people and delegate to them.
About the author
Armando G. Roman CPA/PFS MBA has more than 25 years of experience providing clients with advice and counsel regarding financial matters and their monies. Mr. Roman speaks fluent Spanish and is a former columnist for La Opinion, the nations largest Spanish-language daily newspaper. He is the incoming chairman of the board of directors of the Arizona Society of Certified Public Accountants, chairman of the Audit Committee of Maricopa Integrated Health Systems, and a board director of the Arizona Hispanic Chamber of Commerce. He lives in Paradise Valley, Arizona, with his wife and three children. He can be reached at email@example.com