When building a side business, it is essential to understand your financial advantage. Do you have a job where you can pick up extra shifts in order to make up for your initial start-up costs? Or maybe you work remotely and can reduce your burn rate by moving to a cheaper location. Having a financial advantage means you can invest in contractors, premium tools, and online ads. This is an unfair advantage when it comes to building a side business.
“Unfair advantages are not static. They don’t exist eternally, they develop and change. You should always be asking what your unfair advantages are, both for yourself and your startup.”
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