The ideal financing source is one that provides the longest payback period, carry the lowest interest rates, require little or no collateral and demand no personal liability. Alas, that may be fairy tale. The next best thing is to choose what makes the best sense for you and your business, given your priorities 4. Put your money where it will bear fruit. This is a common error in business decision-making.
Timing can be a key to the success of a start-up.
There's a right time and a wrong time to open a business, especially if your business is cyclical in nature or in a seasonal location. The opening of a retail slot in your favorite mall, or your own convenience should not be your reasons for starting a business. Rather, you should plan through the months when the crest for the demand of your product cyclically ends. Control the cash. Cash flow is said to be the lifeblood of a small business.