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Reply To: How Much is Too Much to Spend When Starting a Business? 

 

By  Susan

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Sometime failure is the best type of learning experience. Back in the mid-2000s, during the real estate boom (and right before the real estate market crash) I was highly leveraged in buying property. Unfortunately, I did not project what could happen in some (or all) of my properties did not sell or get rented. This ended up costing me a great deal of money, and I tried to stay afloat using my savings, and even by taking cash advances on my credit cards. While this was a very expensive lesson, I am much more careful now going into any type of business – especially if it requires a lot of money up front.

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