15 Signs You’re an Entrepreneur
I love mentoring young people who are entering the world of commerce for the first time. This is because it is such a privilege to be close to another human being when they make a journey and go from an academic (or imagined) perspective of what it is like to own (and run) a business, to the real thing.
As anyone who’s been an entrepreneur will know it is an experience filled with bristled excitement. The joys! The heartache! The lessons!
I am often asked the following questions by mentees: “How will I know if I have what it takes to be an entrepreneur?” Or, “Do I have what it takes to be an entrepreneur.”
This is why I love this article by Entrepreneur Magazine called “15 Signs You’re an Entrepreneur“, which is all about how entrepreneurs think and behave.
My best point in this feature?
Point 4 which is all about cash flow:
4. You’re obsessed With cash flow.
Before founding Brainshark, a Waltham, Mass.-based developer of technology for business presentations, Joe Gustafson bootstrapped a venture called Relational Courseware. “All I ever thought about was cash flow and liquidity,” he says, admitting, “there were seven times in [the company’s] eight-year history when I was days or hours away from payroll and didn’t have enough cash to make it.”
How did he respond? “In the early days, you could step up and put expenses on your personal credit card, but that can only go so far,” he says. “You need cash–even if you have the best company and the best receivables in the world–to fight the battle one more day.” Other strategies he recommends include working with a partner who can provide cash advances on projects and maintaining close communication with suppliers.
Entrepreneur Magazine call “15 Signs You’re an Entrepreneur“