Hey there! Welcome to the Carry Letter 👋 We’ll be exploring the latest financial news and discussing how it affects entrepreneurs like you. Plus, we'll share some awesome wealth creation insights from successful entrepreneurs.

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Before You Start a Business, Read This

Entrepreneurship is having a moment—but too often, it’s filtered through Instagram quotes and success-story headlines. What gets missed? The realities behind launching a sustainable, profitable business.

If you’re considering taking the leap, this isn’t meant to discourage you. It’s meant to prepare you.

Here are three critical principles every first-time founder should keep in mind, according to Gary Vee, because good ideas don’t survive bad planning.

1. Cash is Oxygen

One of the most common mistakes early-stage founders make is underestimating how long it takes to generate revenue, and how much cash it takes to stay afloat in the meantime.

Many new business owners are laser-focused on growth but haven’t built a clear plan for financial sustainability. Whether you’re bootstrapping or backed by outside funding, one truth remains:

Do you have a 6- to 12-month runway? Have you accounted for personal expenses alongside business overhead? Many startups fail not because the idea was wrong, but because the cash ran out before the business could stabilize.

2. Your Time is No Longer Your Own

The second reality check? Time.

Launching a business is a full-time commitment, and then some. In your first year especially, nearly every waking hour goes toward product, marketing, customer support, operations, and problem-solving. It’s not just a job; it’s an identity shift.

That’s not to say you should abandon balance forever. But in the beginning, momentum matters. And the entrepreneurs who succeed tend to treat time like capital: invested carefully, with urgency and intention.

3. Your Reputation is Your Greatest Asset

Trust compounds faster than revenue, and breaks even faster.

One of the most overlooked parts of building a business is simply doing what you say you’ll do. Your credibility, consistency, and follow-through will define your relationships with early customers, vendors, and partners.

That’s not just good advice, it’s a business strategy.

Whether you're making a small commitment or a large one, treat your word like a contract. Especially in your first year, your reliability may be your biggest competitive advantage.

The Bottom Line

Starting a business is a big decision to make.

They require financial clarity, time discipline, and operational integrity. Before you launch, take a moment to get honest about what’s really required, and make sure you’re set up to meet it.

Because building something sustainable doesn’t just take hustle. It takes strategy.

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If you want more resources on building wealth as a solopreneur/entrepreneur, check these out:

• The Solo 401k handbook

• The Roth IRA handbook

• The Self-Directed IRA handbook

• The Guide to Paying Less in Taxes

• What is a Solo 401k?

• How to Open a Solo 401k