The following article series is reproduced from www.StevePavlina.com with kind permission of Steve Pavlina
This is part three of a ten-part series of articles by Steve Pavlina about the mistakes made by the newly self-employed.
Ten Stupid Mistakes Made By The Newly Self-Employed – Mistake No. 3: Spending Too Little Money
When you’re starting a new business, whilst you have to be careful with your spending, it’s also a mistake to be too stingy with your cash.
Don’t let frugality get in the way of efficiency.
Take advantage of skilled contractors who can do certain tasks more efficiently than you can. Buy decent equipment when it’s clear you’ll get your money’s worth.
You don’t have to overspend on fancy furniture, but get functional furniture that helps you be more productive. Don’t use an antiquated computer with outdated software that slows you down if you can afford something better.
It takes time to develop the wisdom to know when you’re being too tight or too loose with your cash, so if you’re just starting out, get a second opinion.
Often the very thought of getting a second opinion makes the correct choice clear.
And if you can’t justify the expenditure to someone you respect, then the chances are it’s probably a mistake!
About the author
Steve Pavlina of www.StevePavlina.com is a highly successful personal development blogger who has written more than 1000 articles and recorded many audio programs on a range of self-help topics. He is a frequent guest on radio and Internet radio shows.
Steve’s book Personal Development for Smart People: The Conscious Pursuit of Personal Growth is published by Hay House and has now been translated into a dozen different languages.
To read reviews or to purchase a copy of Personal Development for Smart People: The Conscious Pursuit of Personal Growth by Steve Pavlina visit www.amazon.com