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Finances
Runway
Entrepreneurs need a 'runway' to focus on their business. You can work full-time or part-time as you grow but there are times you might have to go all in. Knowing how long you can sustain your living expenses on just saved reserves is important. Most advisors suggest 18 months worth of runway. If your business is struggling don't use up all your runway before you start looking to get back into the workforce. Give yourself 3 to 6 months to re-enter.
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TASKS CARDS
Do First
You should complete the following tasks before proceeding to the current one.
Create a Personal Budget
One of the biggest stressors of beginning is worrying about money. To move forward, you need to know where your money comes from and where it goes. The best way is to use a personal budget for all expenses and income. You can make your own or adapt a template. This step will take a few hours to gather information. You will need to revisit this throughout your journey as personal expenses and income can vary and change throughout this process.
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Small Business Marketing 101: Using Email, Social, Video and More
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Keep Moving Forward
Don't stop now! Just pick the very next stage-card that resonates with your business and continue working on the correspondent tasks.
