1. Avoid debt.
“Why would you go into debt to start a business? Ramsey suggests not borrowing and growing organically from cash flow when running a business. “That means you grow a little slower, but you grow more steadily and with less risk. »
2. Prioritize your expenses.
Make a list that organizes your expenses from most to least important. This way, even when money is unstable, you have a plan in place to prioritize spending.
3. Be intentional.
"I think the worst thing people do is they don't make money on purpose," Ramsey says. "They are not intentional. You would never buy a car at 22% interest with a payment of $600 when your take home pay is $1,200. It's this lack of purpose and intention that leads people to stupid, debt-spending stuff. »
4. Be proud.
“Running a business is a very cool thing. You give jobs to people. You are serving the people of the community. It is a noble calling, and it is yours. Run it, do it, lead it. »
Related: 5 tips for running a successful business
This article originally appeared in the June 2017 issue of SUCCESS magazine.
