mICRO KNOWLEDGE

Starting a business means you really have to watch your spending. Successful business owner tend to take a frugal approach when it comes to spending. Successful business will put money back into their business instead of going out and purchasing a luxury vehicle or going on a 2 week cruise. They will instead put money into a piece of machinery that will increase the rate they can process customer orders. They understand a luxury vehicle will not be able to do that . Once a business starts turning a profit. Then you can begin to look at possibly purchasing that luxury vehicle and taking the 2 week cruise.

Key Take Aways

1. When starting your own business spend your money wisely.
2. Invest in items and processes that will improve customer satisfaction.
3. At the beginning is better to invest any profits back into your business