Entrepreneur: Recurring expenses and income


I learnt that I shouldn't sign up for recurring outgoing payments (expenses) when I still don't have recurring incoming payments (income or revenue).

When you start a business, whether you have income / revenue or not you will have to deal with expenses (rent, bills, website, domain, employee salaries, tax consultant, bank account charges, business insurance, etc). Where possible don't sign up for recurring expenses, sign up only for a minimum period, first, avoid it, if it’s unavoidable look for free or freemium services that you can make use of in the initial stages of the business. Otherwise these expenses without revenue will decrease the length of the runway (the time you can run the business without any revenue). 

As an entrepreneur I continue to make mistakes and learn. In the posts with title starting with "Entrepreneur" I would like to share some of the mistakes and learnings which probably helps other entrepreneurs. 

For all posts related to entrepreneur : https://www.akclarity.com/search/label/Entrepreneur


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