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NO HANDWRITTEN ANSWERS PLEASE Describe three techniques that enable a business owner to minimize start-up costs.

NO HANDWRITTEN ANSWERS PLEASE

Describe three techniques that enable a business owner to minimize start-up costs.

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Answer #1

The first technique to minimize start up cost is to select an appropriate business to start. If the business owner has limited startup funds , the business owner should start a business that requires small up front investment.

The second technique is to seek out assistance. For small business owners, there are many sources of assistance that provide counsel and advice on how to minimize start up expense. There are also organizations that provide coaching and support to specific group of business owners and tailor their offerings to fit the group.

The third technique is to cut costs and save money at every opportunity . The most effective way to do this is to develop a mindset of frugality and resourcefulness.

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