BUSINESS/KITSAP— Recommendation pertains to what you should do after you manage to raise money—no matter what amount. After subsisting on fumes for months, many entrepreneurs go wild after a capital infusion and waste money on nice furniture, cool office space, free food, and MBAs from big companies.
“The best mentality is to assume that you’ll never be able to raise money again.”
Remember Companies in Kitsap— If you find yourself having the following kinds of thoughts, you are stepping onto a slippery slope:
The investors gave us the money to invest, so let’s support it.
If we feed our employees, they won’t go out for lunch, and we’ll get more work out of them.
We need to build infrastructure now to support the tremendous future growth we’re sure to achieve.
We can always raise more money.
The best mentality is to assume that you’ll never be able to raise money again. How could this happen? You could miss shipping dates. You could fail to meet sales forecasts. Your investors could lose confidence in your team. Your investors could run out of money. Economic depression or a pandemic could occur. You never know!!!
Anyone can survive when everything is going right. Great entrepreneurs can stay when everything is going wrong. If you knew that you couldn’t raise more money, how would you spend what you have?