Being an Entrepreneur is one of the best feelings one can experience. Working for own-self and one’s own passion is a great feeling. However in today’s world only having a great business idea is not enough. Every great business idea needs adequate Funding to become a great business too. For a wonderful takeoff you need the backup of adequate funding. It helps in creating an extra advantage. Adequate cushion helps to create great prospects for growth and expansion.
Start-up funding works like a launch pad, however the helmet here signifies the word ‘CAUTION’. Mere funding doesn’t solve the purpose. The most important trait of an entrepreneur is his ability to take risks. And even more important is the ability to take calculated Risks. There is a very thin line of difference between being an entrepreneur and being a gambler in terms of risk. The one who masters the skill of Caution always has an upper hand.
Once the funding is achieved. The next step is to evaluate the risk-reward relationship. One can decide the priorities and strategies based on that. And last but not the least the most important thing is to set aside the profits. One should always set aside some portion of profit. These set-aside profits or reserves helps the business survive the unforeseen situations.
The crux message here is, If you want to achieve growth, you need to INVEST with CAUTION and always set a point of STOP LOSS to be in a position to ACHIEVE PROFITS.
So always remember these 3 things :
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1) Great Ideas need Start-up Funding to become Great Business.