Page 55 - The Bootstrapper Bible

ChangeThis Doing the Math SECTION 3 If you donʼt run out of money, you get to keep playing. If you end up with more money than you started with, you win. If you plan for the money, and expect it, then you can avoid dwell- ing on it and get back to business. Most entrepreneurs donʼt think about money too much when they decide to start a business. Whenʼs the last time you asked someone at a cocktail party what he does, and he responded, “Every month, I generate more cash than I spend”? Instead, weʼre focused on marketing or sales or product development or hiring or firing or (God forbid) legal issues. Rarely do we deliberately plan for the money. In some ways, this is a great policy. Money is a tool, not an end in itself for most bootstrappers. If you wanted to make big money with little risk, youʼd go to Wall Street or get a fancy job for a conglomerate. But without money, there is no business. Run out of money and your creditors will shut you down, your employees will leave, and your spouse will worry. On at least three occasions, Iʼve come within a few dollars of going bust. And I can tell you that itʼs stressful, itʼs distracting, and itʼs no fun. I also know that in each case, if I had planned for the money, it wouldnʼt have happened. Planning for the money doesnʼt have to be complicated. But you do have to be consistent and, most of all, honest with yourself. | iss. 6.01 | i | U | X | + | Receive fresh manifestos twice a month. GET our free newsletter. h 55/103 f