What’s up CEOs!
As you know, obtaining a license is a critical step in your journey towards success. However, the licensing process can be a frustrating and lengthy one, and waiting for approval can cause anxiety and stress, especially when it takes longer than anticipated.
It's important to recognize the impact that licensing delays can have on your business. As a CEO or entrepreneur, you need to cover expenses and generate revenue. Any delay in the licensing process can impact your bottom line, which can be detrimental to your business's success.
To combat this, the first step you should take is to calculate your burn rate. Your burn rate is the amount of money you are spending each month to operate your business.
Once you understand how much you are burning through and how long you can sustain it, you can decide how to proceed.
If you can last for six months without any significant impact on your business, you may choose to wait for your license to be approved....