Scrappy bootstrapping entrepreneurs pull off amazing things with very few financial resources. But like all good things, frugality can go too far. It can lead to being “Penny Wise, Pound Foolish.” This phrase goes back...
Category - Financial
Don Gooding
Throwing Money At The Problem Isn’t A Good Reason For Startup Funding [meme]
Building a startup is hard, and it’s tempting to think that throwing money at the problems you’re facing will make them go away. Lots of hard earned wisdom says that won’t work. Plenty of failed...
This Past Year Was 52% More Profitable Than Normal For Private Companies
A recent data release by Sageworks shows private company profitability surging by 52% versus recent averages. Typical US private companies have experienced a net profit margin of 6.3% for the four years of 2013-2016...
Three Ways Growth Eats Cash
There are three basic reasons why business growth eats cash: Building Capacity Feeding the Cash Cycle Buying Long Term Customers Not all businesses experience all three types of cash-guzzling growth. And some don’t...
My Money Mistakes: Monthly Bank Reconciliation
I made lots of Money Mistakes during my years as an entrepreneur. I’m probably making some now! That might surprise some people who know I was a VC, and I’ve been helping entrepreneurs with funding and other issues for...
Money often costs too much [meme]
Ralph Waldo Emerson (1803-1882) was an American essayist, philosopher, poet and lecturer. This oft-repeated quote of his is a mere snippet of a very long essay on “Wealth,” which in turn is one of nine essays in his...
A Beginner’s Cash Flow Forecast: Microsoft’s Excel Template
You can’t run out of cash or your business will fail. The first step to make sure you won’t run out of cash is creating a monthly cash flow forecast in a spreadsheet. If you haven’t done this yet, read on. A Simple...
Simple Wisdom from Ben Franklin
Ben Franklin crafted some wonderful pearls of wisdom for business owners. This quote is one of them: If you know how to spend less than you get, you have the philosopher’s stone. The internet is filled with fake...
13 Ways That Time Is Money For Entrepreneurs
Benjamin Franklin is credited with coining the phrase “Time Is Money.” It’s from Advice to a Young Tradesman, Written by an Old One (1748). Here is the original: Remember that Time is Money. He that can earn Ten...
Profits Are Like Breathing
You have to have profits in your business, eventually, to make it sustainable. Businessman Maurice Mascaranhas coined this phrase to highlight the essential nature of profits. But he defied conventional capitalist and...
