- It limits your financial exposure while you decide if you really want to be in that business.
- It forces you to go through the whole cycle and get to running the business, or as I call it, ‘Rinse and Repeat’ before you invest additional time and money.
- It allows you to learn and understand every aspect of your business since you can’t afford to hire anyone else, except on a limited basis, and then only for advice.
- It teaches you to manage both your finances and your time, as you have to either keep your day job, take a part-time job, or live off your savings or retirement to get your business started.
- You might only have $1,000 to start a business … or you might not even have that much. (If that’s the case, see the Debunking the Myths section in $1,000 Start-Ups for ideas to solve that.)