How to do not go bankrupt because of crazy entrepreneurship?

It is well known that creating a new company is extremely time-consuming and costly. Once you start this business, it's like sitting on a train that can't stop (even a roller coaster), it doesn't stop halfway or allows you to get off, you have to indomitable. Pablo Ruiz is the creator of Infinixsoft. The company is located in Miami, its main business is to develop apps that span iOS, Android and web platforms. It is well known that creating a new company is extremely time-consuming and costly. Once you start this business, it's like sitting on a train that can't stop (even a roller coaster), it doesn't stop halfway or allows you to get off, you have to indomitable. Once you have committed yourself to an idea, assuming you are enthusiastic about it, you will devote all your time, energy and money to it. How wonderful it is! There is nothing in the world more wonderful than turning your work project from 0 to an empire. We all like the so-called success stories that inspire us to build our own careers. Once we become an entrepreneur, we can no longer return to the original point. I can't imagine I'm going back to work for someone else, just for a company that didn't show up. That's why I have to keep my company running anyway, and I can sacrifice everything for it. Even now, I didn't go out to relax in the middle of Friday but wrote this article. Why not? Because this is my deep feeling, I deeply experience what I am doing, and I am sure that you are in the creation of your own career when you think so! 1, entrepreneurs can not move forward, too far in the creation of a personal enterprise, there is a common scenario, when things are not as expected to develop, People will have a mindset to keep pushing. You will spend more time, more resources and even more money to solve the problem. This is the version of the story I often hear: a start-up entrepreneur spends 10000 of dollars and two months investing in her ideas, but it's not as satisfying. So she decided to add 10 new features to make the career change to be profitable as soon as possible. Two months later, after spending another 15000 dollars, she released a new version of what she described as a rich feature, but things didn't get any better. Now, her new project cost four months and 25000 of dollars, and she had to borrow money from family and friends. But after a few months, her career was still not getting better, and she owed a debt. She did not even dare to see the faces of her friends at the party, her husband would be mad at her for months, and she did not notice any change in the attitudes of those around her, because she had been immersed in her efforts to change her career pictures until she was in debt. Why doesn't she spend more than three months looking for other investors? If it were me, I would not be able to move forward, I hope you can understand this point, things can be worse at this point forward. Sometimes money is not the answer to the question. Instead, it could ruin yourThe family, your friend relationship, makes you a lifelong enemy of your friends. The founders are willing to sell their bed boards to invest in their own businesses, holding on to a little bit of the idea of pushing my career to success "because they don't know when and how to stop." 2. Know your limits in advance if your business does not develop as you expect, you can easily continue to consume it if you do not set a limit for your career in advance. That's what every entrepreneur is born to do! You love your career, it's your child, you don't just watch your child die and not fight for it. Although this attitude is commendable, it is also very dangerous! Not only because you've wasted all the time you could have made money, but you've sacrificed a lot of other things at the same time. Every day, your career is not smooth, you feel pain, you are prone to anger, your self-confidence loss, all these will affect your relationship with family and friends. So how do you avoid the problem? One of the most important advice you can take to avoid bankruptcy is (and it sounds very straightforward)-don't let your expenses outweigh what you have. That sounds simple, doesn't it? 3, set limits and goals before you start thinking about your product strategy, decide how you want to build your business, and assume that everything that excites you will come true and you'll have hundreds of thousands of users. Set your boundaries. You should even think about limiting this before your idea is going to pen. Set your boundaries as a first step. Let's assume you have a great idea of the app. You've been working on this idea for months, and then you decided to try it out. Stop right there, or start writing a plan that should stop, you have to honestly ask yourself these questions: • How much would you like to spend to build your ideals? · How much time are you willing to spend before your idea succeeds? Remember to ask yourself this before you start everything else. Once you've started making your prototypes, or you've written a business plan that you'll get millions of revenue in 5 years, it's too late to start asking yourself these questions. The idea is to remind yourself at all times how much you can afford for your career, and then keep the cost down to the extent that you can afford it. You can spend all of your time and all your money-keep the numbers of these two questions firmly in your mind, which is the main line you set, and don't exceed these two numbers before you make a bigger sacrifice. If one of the two values you set for yourself has run out before your career succeeds, then you should stop the business and do something else that will stop you from going bankrupt. Before you do anything, your first step should be to determine a measurable goal. How many registered users/subscribers/emails do you need to verify that your vision has been successful? Although this specific figure varies from person to individual, this method is called you to have a goal. Then, around this specific goal, there are some questions that canTo help you set boundaries, you have to keep asking yourself these questions: • How much do you want to spend to verify that your ideas are successful? How much time would you like to wait for the results to come out? Again, this is set by your own volition, which is determined by your specific career, your personal goals, and the amount of time you are willing to spend on this career.