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.