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Episode 1846:
Kalen Bruce breaks down the complex process of estimating startup costs into a practical, strategic approach for new entrepreneurs. By categorizing expenses, leveraging online tools, and maintaining conservative projections, he shows how to build a realistic financial foundation while avoiding unnecessary debt and cultivating resilience in the face of uncertainty.
Read along with the original article(s) here: https://moneyminiblog.com/business/estimate-costs-of-starting-a-business/
Quotes to ponder:
"Interest rates are a dark cloud that looms over your business and the last thing you should do is ignore it."
"Plan changes as the financial winds turn, and that is the name of the game if you want to succeed."
"Always aim for a conservative assessment. It will help you secure what is called a financial cushion that covers up to one year of business expenses."
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