You can go broke without getting a client

When I started my own law practice in 2010, I did some small business networking and I realized there was a cottage industry of people who wanted to separate my money from my wallet. They would try to sell me services that I didn’t need, including search engine optimization, as well as literature tables at events that would garner me no business.

You have to use your assets wisely, or you could go broke before you get a client. If you’re an advisor, you could go broke attending every industry investment advisor event. These events are probably useful, but the costs may outweigh the benefits when you don’t have many clients.

When you’re starting out, you need to be a miser if you have limited means. Otherwise, you might be done before you get the business off the ground.

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