Financial Fitness for Entrepreneurs

This isn't recent, but still seems relevant. Back on July 26, 2004 venture capitalist Brad Feld wrote a post entitled "Financial Fitness for Entrepreneurs". It is well worth reading. The main points are:

• Cash is king
• Put in real financial systems from day one
• Measure everything
• Build an annual operating plan
• Use your vendors to fund your business
• Use your customers to fund your business
• Be careful of personal guarantees
• If it sounds too good to be true, it probably is
• Finance your business appropriately for what you are trying to create
• Choose professionals carefully
• Don’t take anything for granted
• Pay your taxes on time

Brad puts a fair amount of meat on those bones, so read his post carefully for the details.

-- Jack Krupansky