If you want to change the world, start with mastering your finances

Many founders kill their businesses and ideas with bad personal finance habits.

They’ve got a great idea, built a solid team and actually execute excellently. But the business fails. Their business has barely got of the ground and their product is only starting to gain traction, but because they have the title CEO, they feel the need to look the part.

So they go off to buy a luxury SUV, move into a porshe area of town, start flying business class etc. And typically, they don’t do this out of their pocket, they’d expense this to the company.

A few years/months down the road, business slows down and their isn’t sufficient capital to tide the business through. And they are left with selling or shutting up shop.
__
Dear founder, give that business some time to grow and flourish. You will not only fly business, you’d fly private if you so desire.

Of course as CEO, you represent your brand and shouldn’t go around looking tacky or in a a jalopy. That is however not sufficient grounds to blow cash you have raised from investors or revenue your business is only starting to generate.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s