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Starting Smart

If your outgo exceeds your income,then your upkeep will be your downfall.

This story appears in the September 1996 issue of Business Start-Ups magazine.

Running a profitable new requires adequate cash flowand that operating consistently be met. Once you'vesettled on a business idea and have completed adequate preliminaryresearch, the has come to develop your first estimated annualbudget.

Even the most conscientious person who tries to for anentire year may underestimate or overlook a variety of everydayexpenses. Budgeting problems can result from miscalculations,overspending, or, quite simply, growing too fast. Before jumpingin, keep in mind that the budget for your first year must includeboth one-time start-up costs and ongoing monthly expenses.

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