Does It Really Take Money to Make Money?
As an entrepreneur, you’ve likely heard the saying, “You have to spend money to make money.” But is it true that it takes money to make money?
How often have you been told, “You have to spend money to make money?”
As an entrepreneur, you’ve likely heard it over and over and over again.
But is it true that it takes money to make money?
In short: Yes. It does take some money to launch any business venture.
It can be difficult to make money in a business without investing some money in supplies, products, advertisements, or other business expenses. Without a clear budget in mind, new entrepreneurs sometimes spend a lot more money starting their business than is necessary.
Ultimately, the cost of making money depends heavily on several factors. There are ways you can predict expenses and keep launch costs from spiraling out of control.
4 Ways to Prepare for Launch Day and Save
- Market research and competitive analysis
- Write your business plan
- Calculate your startup costs
- Establish business credit
If you want to make money, it does take money. Just remember that the money you spend on unnecessary expenses ultimately comes out of your pocket so
make sure the money you spend is actually making you money in return.
