“Rule No. 1: Never lose money.
Rule No. 2: Never forget Rule No. 1.” – Warren Buffett
We set out to start our businesses with many motivations: fame, a love of what we do, a willingness to serve, to be the best at what we do, to create financial stability or to get filthy rich.
Whatever the reason without a sound financial model and without money, everything is hard and nothing is fun.
If you aren’t concerned about making money, either don’t go into business or find someone who is obsessed by it and take their advice.
Cash flow is much more important than profit for a start-up, but ultimately profit is what keeps you going! Controlling finance is the single most important discipline for your business – take professional advice!