BUSINESS SETUP – Beware of the 5th cost (the invisible one)
Are you tired of working under somebody for too long or are you looking for freedom from your boss?
And suddenly you get some funds from, like property share or maybe your savings or even an easy loan from somewhere or maybe a gift or a lottery. Your mind runs towards starting some business on your own. Isn’t it very exciting and thrilling to start a business and be your own boss. The whole process of idealization, research, design, setting up, beautification and announcements. Its all good and fantastic feeling.
4 main aspects like planning, setting, running & recurring costs are definitely the key but never forget the 5th cost – the invisible costs because of calamities, government policy changes, accidents, clients / customers psychological issues & invisible competitions etc., which are unexpected.
Many businesses have succeeded just by the look of it, some because of hard work or passion & perseverance shown, or some with just contacts & marketing and some by fluke. But the the numbers are much higher when it comes to failures even with the best of efforts. There are many ways of starting the business and succeeding in it but there are very few ways to sustain it.
How do we sustain against all odds?
Be aware and prepared for the invisible costs involved from the beginning till the end of your business journey before starting. You may be able to beat it.
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