2. Not being greedy enough
There’s a flip side to the problem highlighted above. While you want to avoid expecting success and profits overnight, you also want to avoid being overly optimistic about how your investments are being utilised.
3. Trying to grow too fast
Many small business entrepreneurs try to grow too fast. It makes sense to rush when it comes to cash inflow, but not to grow your business too soon when you’re bootstrapping your business. Of course, growth also requires further investment, which requires more cash.
4. Not having an emergency fund
Despite your lack of sources for funding, it’s crucial to have and maintain an emergency fund. An emergency fund ensures that when you run out or are in dire need of financing, you don’t have to rely on lenders or other sources that will only increase your debt.