diversification

Bootstrapping occurs when a business owner starts a company with little to no assets. Bootstrapping involves no external sources of funding and is so early that the company may be nothing more than a name and an idea. Another important aspect of a startup’s financial planning is to project the business’s cash flow. Bill Brigham, director of the New York Small Business Development Center in Albany, advises new business owners to project their cash flows for at least the first three months of the business’s life. He said to add up not only fixed costs but also the estimated costs…