Multiply your company's projections

When starting a business, you're likely to underestimate your needs, from your first budget to staffing expectations.

• Make a list of all your needs, such as time, resources, money, and team members, and then triple all those estimates.
• Overestimate how long it could take to win over new clients and help them implement better business practices.
• You're bound to run into unforeseen challenges, so include contingencies. You may need to stow away a nest egg to live on for up to a year or gain access to funding through loans, credit unions, or pledges.