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Live Below Your Means

.for the good of your start-up.

Opinions expressed by Entrepreneur contributors are their own.

When formulating the financial end of your business plan, always assume the worst. Overestimate production and marketing costs, employee salaries and so on, and then underestimate what will be left for your own salary. Without a realistic budget, your fledgling business won't grow at the rate you want or need. Besides, aiming for and meeting higher earnings goals will give you a greater sense of satisfaction and keep your company in good fiscal shape.