It’s amazing, isn’t it? That some people make claims like this. What am I talking about? I’m talking about the so-called gurus who claim that you can make a new start in only 30 days.
Really! How feasible is this?
Well, I suppose it depends.
Some entrepreneurs may be able to get going within 30 days but would they be able to start producing income in 30 days?
There is a huge difference.
Think about this for a moment: how much investment is required to find a new location for a store? Build an online store? Then, how much capital is required to stock it? What about the rental? It’s unlikely that the entrepreneur will obtain an open-ended rental agreement from a landlord.
Wouldn’t you argree?
Yes, so it may be possible to restart quickly.
But the real question to ask is: How long do you need to trade before you can start producing income?
That depends on the nature of your start-up business, whether you are going to trade in fast moving consumer goods, or online or consult on and execute projects.
It means that you need to pay attention to carefully working out capital outlays, cash outflows and inflows, before you pull the trigger to start your business.
Remember this — it always costs twice as much as you think to start up and takes three times as long to get going than you originally thought.