When running a startup, one should be conscious of when the lofty vision starts to be a ball-and-chain to managing your company. The primary purpose of management is to ensure the company does not run out of cash. As with established businesses, managers need to be acutely aware of the company's cash position.
I have met startups that talk about game-changing platforms with new paradigms and ideals. These same companies often make the error of letting their vision blind them from harvesting the low hanging fruit and would instead jump hoops for VC and investor money. What happened to creatively exploiting partnerships for example by asking for sales advances?
Remember that capital injections are just an aspect of your business. It is healthier to generate sales. You also do not have a business model until cash is organically generated and flowing through the veins of your bouncing baby business.
As Lord Sugar would say, "You have to bloody sell!"
I have met startups that talk about game-changing platforms with new paradigms and ideals. These same companies often make the error of letting their vision blind them from harvesting the low hanging fruit and would instead jump hoops for VC and investor money. What happened to creatively exploiting partnerships for example by asking for sales advances?
Remember that capital injections are just an aspect of your business. It is healthier to generate sales. You also do not have a business model until cash is organically generated and flowing through the veins of your bouncing baby business.
As Lord Sugar would say, "You have to bloody sell!"
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