Quote:
Originally Posted by Pineedles
As a small business owner may I say it is all about, "do I have enough cash to survive with a negative balance for 2 years? And BTW that includes not paying myself for anything concerning the time I put in, for at least that time period." Too bad, if this is the story. Everyone thinks they can run a restaurant. It's one of the toughest businesses to be in!  |
You are totally correct. My "core competency" is starting businesses, mostly in technology-related sectors, but I've advised people on starting and raising funding for ice-hockey rinks, paving companies, commercial real-estate, and a dozen other random things.
Very frequently everyone only assumes best-case scenarios and never accounts for all the random overhead, unexpected expenses, price increases, lack of product availability and so on. So often people are caught off-guard for very predictable common problems.