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Explore the Entrepreneurship.org Resource Center to find resources. Designed with entrepreneurs in mind, our resource center allows you to find materials to grow great ideas.
Taking on debt can be healthy for a company's cash flow and sustainability, according to the author, who notes that the keys lie in ensuring debt is taken on for strategic purposes and that the company is ready to manage this important new relationship.
An effective method of managing your company's cash flow is using accounts payable (A/P). The author outlines steps to prioritize A/P and recommends you treat vendors as a critical part of the success of your company.
Bootstrapping is one way to extend existing cash and postpone the need to raise money, thus allowing the entrepreneur time to achieve milestones and raise the valuation of the company. The author provides specific ways to bootstrap your company and extend your cash runway.
Recognizing that cash is king, this entrepreneur gives an overview of why your active involvement in managing cash on a daily basis is critical and how it will allow you to become a more informed leader and develop a keen operational awareness of your company's finances and its capabilities.
Billing and collecting your accounts receivable (A/R) in a timely manner is key to optimizing cash flow and you need to have a way to monitor A/R at least on a weekly basis.
Recounting the tale of founding and growing two companies, one which ultimately failed, the author argues that the key message about cash in a high growth business is raise more than you need, and spend less than you have.
Entrepreneurs often have only one opportunity to make a good impression on potential investors. Goff includes recommendations to ensure that pitches have a better chance of gaining interest from angel investors.
The author asserts there are three tasks entrepreneurs need to do to attract the attention of angel investors. They are "the three shows": show up, show enthusiasm, and show humility.
For Terry Gold, preparing for pitching angels is more about demonstrating how your good idea is going to result in a great business than it is about developing documents and presentations.
Communication is the vital link in building a relationship with a business partner, in this case a mentor (angel) capitalist. Learn where and when to use the right presentation for the right audience whether it be an angel or venture capitalist.
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