|
My university degree in Computer Science didn’t include any business training, so I’ve learned everything by trial and error. One of the biggest lessons I’ve learned is this: Your company cash flow will be the first thing to put you out of business.
Cash flow basically means "Do I have enough cash in my bank account to cover my expenses?" Sounds stupidly simple, but you’d be surprised at how many people ignore this.
So why is this the #1 killer of small businesses? Here are the two main reasons: - Companies aren’t realistic when it comes to predicting their income and expenses. - They overestimate their income and underestimate their expenses. Companies don’t see a cash shortage coming and they run out of money
Tips for keeping your cash flow happy
1.Spend as little as possible. 2.Don’t buy hardware you don’t need. 3.Be brutally realistic. 4.Chase invoices the minute they’re late. 5.Update your cash flow regularly. 6.Cut expenses as much as possible. 7.People don’t always pay on time. Via Fatima Patova
Minimum Viable Product could even mean a "fake" backend powered by humans. Not scalable, but for MVP, that doesn't matter
Income Statements, Balance Sheets and Cash Flow Statements are good large company financial monitoring tools. [BUT]
Startup essentials: release half-cocked features « i-iterate http://j.mp/l0FQDg...
Product-Market Fit is All That Matters – an Interview with Hopper Travel Founder Frederic Lalonde (Great interview w Fred Lalonde: Product Market Fit is all that Matters http://nextmontreal.com/product-market-fit-hopper-travel-fred-lalonde...)...
The lean startup movement is growing and all over the world local user groups are meeting to discuss, learn, and build successful businesses. But what is a lean startup? Is it two hackers in a garage, or is it more?
|
A top girls' school is planning a "failure week" to teach pupils to embrace risk, build resilience and learn from their mistakes. Via Lee Webster
Bored in school, failing classes, at odds with peers: This child might be an entrepreneur, says Cameron Herold. At TEDxEdmonton, he makes the case for parenting and education that helps would-be entrepreneurs flourish -- as kids and as adults. Via Lee Webster
I'm convinced that we have to find a new metaphor for e-Learning in order to bring e-Learning to the next level. The old book-metaphor with chapters and pages is well suited for linear courses, but... Via victormblancogijon
Capture anything you see on your PC screen with SnapIt. It is convenient tool for graphic designers, bloggers who capture and crop images for their posts, for tech writers who need to describe menus and interfaces of applications, web designers and those who work with graphics every day. It captures and auto saves images with one click.
Customer Development Manifesto: The Path of Warriors and Winners (part 5) (Good perspective on startup pdt marketing | Customer Development Manifesto: The Path of Warriors and Winners (part 5): http://t.co/pc5Jksw...)...
This post is all about the only thing that matters for a new startup.
|
