Young Entrepreneur Ted Rheingold Talks Community Websites and More
Our latest interview is now live. Here it is: Interview with Ted Rheingold Top Dog Young Entrepreneur
Selected Reply this time is Ted’s reply to: What advice would you give to a Young Entrepreneur setting up their first business?
Spend as *little* money as possible and don’t spend one more dollar than you can afford to spend. A tiny budget forces you to make the best decisions, you don’t waste money on decent idea, you only spend it on the best. Only spend money you can afford to spend. If you get in a whole your options become significantly limited as your business has to compensate. So many times a slow-growth business fails to mature because it went bankrupt before it had a chance to get there.
Find Ted’s website at http://www.dogster.com AND his blog at: http://blog.dogster.com
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never spend a dollar that you don’t yet have.. < that is the best advice… this way.. the worst case is that you don’t make money.. but at least you aren’t in debt!