Year after year, we hear that the number one reason businesses fail is they are under capitalized. That is much like saying all people die of heart failure. It is a technical, if very misleading, truth.
Yes, the reason they close is because they ran out of money, but they had other causes [...]
I am not sure how I missed it the other day, but in follow up to my mentioning Seth Godin’s Free eBook, a reader wrote in (Thanks Josh!) and pointed out a post from the other great one, Guy Kawasaki, on the Fine Art of Bootstrapping.
Guy says:
“I could build a case that too much money [...]
If you are thinking about starting a business, I know one thing about you already:
You do not have enough money.
You just don’t. Odds are, unless your name is Gates or Buffet, you are under capitalized. Know what? Everyone else is too.
I guess somewhere out there is somebody who had the proper lines of credit, [...]