For you innovators and business developers, Lifehack.org has some tips for you:
The biggest mistake I see first time entrepreneurs make is that they spend too much money.
They rent an office or retail location, pay big incorporation fees, hire employees, and build an expensive website (just to name a few). And all before they’ve earned their first dollar!
Each month their cash reserves get lower and lower while they struggle to make sales to cover their expenses. Eventually the fledgling business dies with no cash flow, leaving the owner hurt emotionally and financially.