7 Common Mistakes to Avoid When Starting Up

7 of 7

Giving It Your All, Financially

Many small business owners may be tempted to drain themselves dry when it comes to financing their business. When a founder has already sacrificed his sleep, other career opportunities, and perhaps a small portion of his sanity, it seems only natural to try to make it work by investing as much as you can. However that won’t work, says Jennings. “The purpose of the business is to work for you,” Jennings says, and a founder should be sure to provide for himself even while the company is growing. “A modest salary is critical to your well-being.”