I had a discussion with a person that was interested in creating a business the other day which required an investment to set everything up. However, the concern he had was that he didnâ€™t want to spend too much money as he has no idea whether or not it will be successful. He doesnâ€™t want to end up with a pile of debt in case things donâ€™t work out. Therefore, he tried to find people he knew to help him set things up for less money.
When it comes to financial risk I think the most important thing to think about is if there are any ongoing fees that you have to pay as a result of your venture. Keeping those down to a minimum would be the primary factor Iâ€™d say. Itâ€™s almost like starting a website that will conduct all of your business. If the risk after you create the site is simply a $12/month plan then in my opinion that is a reasonable way to go assuming you are trying to be cautious.
For that â€œunsure â€œmentality I think my limit would a $50/month loss. Sounds really little, but my way of thinking is if I am that doubtful to want to go all in, so to speak, then most likely my efforts wonâ€™t be as urgent to make sure that failure is not an option. No point in investing so much financially in that sense. If I am going to lose anything it should be more about my time.