Dotty Scott shares how to reduce financial risk when starting a business. Keep six months of living expenses saved, and stay at your corporate job or cut back to part-time while you build.
Do you have any methods for mitigating that risk a little bit so it's not quite so scary? I like to say have about 6 months of savings, 6 months of what you need to survive, need to live on in savings. And so if it doesn't work out the way you wanted it to work out, then there is the option of going back to work, going back to a corporate job. Or another way to do it is, um, cut back on the corporate job, let me move to part-time, and build out the business, um, your, your entrepreneurial, um, business.
