Financial Fitness for Entrepreneurs

Fred Wilson points to Brad Feld who writes about “some fundamental financial tenets that all early-stage entrepreneurs should be aware of, understand, and heed”:

1. Cash is king
2. Put in real financial systems from day one
3. Measure everything
4. Build an annual operating plan
5. Use your vendors to fund your business
6. Use your customers to fund your business
7. Be careful of personal guarantees
8. If it sounds too good to be true, it probably is
9. Finance your business appropriately for what you are trying to create
10. Choose professionals carefully
11. Dont take anything for granted
12. Pay your taxes on time

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