Insider secret...what if you make no sales?Expert Advice
When people start up their own label they usually over estimate the number of sales they will make in the first couple of years – when in reality in the first year most start up labels make no sales at all. Yes I mean zero, none, nil!!!
There is a high probability that this will happen to you too. So how would you handle having no incoming money?
I always recommend making a “just in case the worst outcome happens” plan. How will you manage? Can you get an extra or part time job or move back to live with your parents? Can you live without all the comforts that you have become used to?
When you are planning your financial forecast then consider your current sources of income, how long your savings will last and prepare yourself for any situation that could pop up whilst you are waiting for your business idea to take off.