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3 Holiday Marketing Tips

Get your share of holiday sales with this advice for being at the top of your customers' wish lists.
November 7, 2005
URL: http://www.entrepreneur.com/article/80754

One of the biggest psychological barriers to starting and maintaining your own business is money. Even with an initial nest egg, financing a startup over time can be grueling. I speak from personal experience. During my company's startup phase, there were many occasions when I was overdrawn at the bank, behind in vendor payments, and lying awake at night worrying about whether I'd make it through the month. There were even times I had less than a dollar in my bank account! Take solace in knowing that this is often the early experience of many successful businesses.

However, there's hope! By understanding your options and using a little creativity, you can avoid overextending yourself--and tap into additional resources when you need them. The following are some strategies for the burgeoning entrepreneur:

Stretch What You Have
It's a good idea to use what you have before borrowing what you don't. Here are some common-sense--yet often bypassed--strategies to make the most of what you've got:

In addition, be sure to communicate! If you're going to be late with a payment, don't avoid your vendors--let them know upfront. This way you can work on a solution together, such as incremental payments, etc. The quickest way to sour a relationship is to ignore their inquiries.