| json_metadata | "{"app":"Musing","appTags":["mistakes"],"appCategory":"mistakes","appTitle":"What mistakes did you make when starting your business?","appBody":"<p>For me, when I tried to venture out my business my first ever mistake that made it difficult for the business to go out is - financial planning. I didn't evaluated all of the possible cost which totally drained my financial funds making me miserable and cheap at buying things for the business. I loaned and borrowed money which has an overwhelming interest rate and that alone is a big mistake I've done initially.</p>\n<p>To cut the story short, I've been in a financial debt due to poor financial planning. What are the cost of buying the materials, the product itself, venue rental, labor, employee salary, and possible break-even situation which I totally failed to capitalize. My thinking is only be able to set-up the business and realize those things little by little as the business progresses.</p>\n<p>Its a good lesson to learn and this time I am mindful of all the in's and out's of the finances when I set up a business. Its a great lesson to learn and a slap to reality that poor business planning often leads to salvage especially the financial ones and maturity of the mind in every aspect that we look on in setting up a business.</p>","appDepth":2,"appParentPermlink":"fkd97q7lx","appParentAuthor":"ajayiwaldorf","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
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