I have started several businesses over the years and I have always found that the #1 way to give myself a good shot at creating a successful business is to lower my expenses as low as possible.
In life it’s much harder to count on a steady income especially if your self employed so I concentrate on the area I can control which is monthly expenses. When your starting a new business the first few months are almost guaranteed to not make much income.
Most businesses don’t start turning a profit in their first year but you can speed up that process by reducing your expenses which will allow you to concentrate 100% on the business. Dealing with the stress of high bills is not a good way to focus your mental energy.
Don’t think of lowering your bills as downsizing, think of it as a short term diet. Once your business is turning a profit you can start adding the things you dropped earlier. Everything in life requires some sacrifice but this one is only temporary.
Once your all your hard work has paid off and your business is running smoothly you will look back at the slimmer times as worth it and you won’t ever have to deal with the stress of getting laid off.