While painting a perfect picture is needed to become a renowned artist, that’s not the case for gaining VC support. In fact, a founder who describes a flawless company can throw up a major red flag to an investor.
Self-awareness is one of the most important leadership qualities — leaders must know their strengths and weaknesses to avoid mistakes. Transparency allows investors and partners to plan ahead to avoid potential problems down the road.
In this article, TX Zhuo discusses how important it is for entrepreneurs to share their strengths and weaknesses when talking to investors.
It’s not like you’re just in it for the money, but cash flow is vital for any business to survive. In fact, a whopping 82 percent of businesses go under because of inadequate cash management.
So, maybe it should be a little more about the money. Odds are you didn’t become an entrepreneur to deal with cash collection, but a weak system for collecting payments can leave your business crippled with debt, even when your accrual accounting system is showing profit.
In this article, TX Zhuo maps out several strategies to ensure your startup is getting the money that it rightfully earned.