5. Your Back-up Plan: you might have the perfect business deliberate and ready to start, however in this world there aren’t any ensures and your new startup could nonetheless fail regardless of all your careful planning. It’s a good idea due to this fact to draw up a back up plan earlier than you quit your current employment and begin a business. A sound again up plan will ensure you’ve gotten something to fall again on should your new enterprise show unsuccessful. Finally it will make sense to never invest greater than you possibly can afford lose and by no means borrow more than you possibly can afford to repay.

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