http://www.energybyte.com/blog/entrepreneurship-lessons-from-bangkok-thailand Doing Business, Start-ups, Small Business Blog Mon, 8 Mar 2010 21:11:28 +0100 http://wordpress.org/?v=2.9.2 hourly 1 http://www.energybyte.com/blog/entrepreneurship-lessons-from-bangkok-thailand/comment-page-1#comment-46 MorganLighter [Visitor] Thu, 06 Sep 2007 15:20:51 +0000 http://www.energybyte.com/blogs/?p=133#comment-46 I can only assume we are not strictly speaking about internet entrepreneurs?<br /> I agree with your comments - as well as your closing sentence and would like to add another very important condition.<br /> If one is choosing start their own business, they should have at least 5 years of overhead in the bank as most businesses fail in the first 5 years due to lack of funding. This also, in my opinion, applies to internet businesses though the overhead is much less than the typical retail store.<br /> Just imagine the peace of mind one would have if they didn't have to worry every single minute about the rent, the employee wages, the taxes, the inventory, the utilities, etc.<br /> Finally, use your credit cards judiciously. One might like to check out the SBA to get if they qualify for a loan.<br /> I can only assume we are not strictly speaking about internet entrepreneurs?
I agree with your comments – as well as your closing sentence and would like to add another very important condition.
If one is choosing start their own business, they should have at least 5 years of overhead in the bank as most businesses fail in the first 5 years due to lack of funding. This also, in my opinion, applies to internet businesses though the overhead is much less than the typical retail store.
Just imagine the peace of mind one would have if they didn’t have to worry every single minute about the rent, the employee wages, the taxes, the inventory, the utilities, etc.
Finally, use your credit cards judiciously. One might like to check out the SBA to get if they qualify for a loan.

]]>