Mon, Jun 01, 2015
Every entrepreneur has to navigate two critical and limited resources: Time and Money. Regardless who you are and how well your startup is funded — your goal is always the same: Reach critical mass before you run out of capital.
You need to reach the point where your startup can sustain itself on its own internally generated cashflow. Reaching this point doesn’t mean you might not want to raise additional capital for growth — but you will do so from a position of strength instead of a position of sheer necessity for survival.
Until you reach that point you need to be careful to neither run out of capital or time. And thus be ultra-focussed on getting your startup to that point.
Too many startups fail as their founders never paid attention to this ultimate truth — they simply assumed that they can always raise some more capital as long as they show “traction”.