In this episode, Scott Becker shares advice for startup success.
Chapter 1: What are the two core thoughts for startups?
This is Scott Becker for the Becker Private Equity and Business Podcast. Here's two core thoughts for startups today. And again, welcome back after a long weekend. And thank you for listening to the Becker Private Equity and Business Podcast. If you're the first person to respond to this podcast and text scottbecker 773-766-5322. And mention in the text startups.
Chapter 2: Why is cash flow crucial for startups?
We'll send you a 100 hour Amazon gift certificate. But there are two rules for startups. I love these. One comes from Twitter and David Lovejoy. And it sounds so simple, but it's so true. Don't run out of cash. I've seen so many people build new businesses. They run out of cash. They've got to leverage the house. They've got to leverage this. They've got to leverage this.
Chapter 3: What advice does David Lovejoy give about financing?
They've got to take on horrible financing. Whatever it is, make sure you're planning enough to run out of cash. The second one is somewhat in contrast to this, and I think this is a fascinating piece of advice. If you're rich, you sometimes suffer the affliction of being able to keep on putting money into a business if it makes sense or not.
Chapter 4: How can wealth impact business decisions?
So the second big concept is don't run a business like a rich guy. And I just absolutely love this concept because sometimes people just keep on pouring money into businesses
and they do so for the fun of the game but not really to run a business and you gotta decide are you running a hobby or a business and i just love this concept of of of of don't run a business like a rich guy i got this advice secondhand i love it so those are two thoughts for startups again if you're the first person to text me today 773-766-5322.
We'll send you a 100-hour Amazon gift certificate. And you got to mention startup in the text. Thank you for listening to the Becker Private Equity and Business Podcast.