One of the things we quickly discovered when launching her first busniess, this is how time is a scarce resource. Obviously, it is always possible to cheat to win a few hours by shortening nights with gallons of coffee and magic pills. But in addition to health problems, dozing at his desk quickly becomes unproductive.
The cash management is a major concern for many entrepreneurs. However, money should not seem like you are more important than the time resource. The temptation to do everything yourself to save a few dollars is a common mistake ... Here are 4 reasons to manage time with more rigor than your cash.
Too late! Timing is essential. Have a "good" idea is one thing, but it will only work if your offer is sold at the right time. And as an entrepreneur, you will be constantly confronted with the law of Hofstadter namely that "it always takes longer than expected, even taking into account Hofstadter's law." If you are not really looking for to save time even if at a cost, you increase your chances to pitch your startup.
You're not alone. Wasting time is to let the competitors following distance or you take the risk of new players to settle and put you in trouble. And this is even more true in the field of new technologies where everything goes very quickly. So looking to save time but also win by making regular "sorting" on what is effective and what is not within your company to outpace the competition.
The longer ... at least that's good. The majority of startups fail mainly due to problems between partners that often occur after interminable delays in product development. One of the partners is discouraged by seeing the company stagnates and leaves the adventure leaving other associated demoralized and unable to advance. It is a kind of curse that affects a multitude of startups that eventually die while their offer was never marketed.
"Time is money." We all know the saying that applies perfectly to entrepreneurship. Wasting time, so it is losing money. A company that supports fixed costs (salaries, rent, taxes, insurance ...), there is no interest to save money by limiting hiring or use of outside providers if it is to finally make treading water for 6 months. Whether you, your partners or your employees, everyone should focus on its area of expertise so that each day is invested profitably in terms of results.
The cash management is a major concern for many entrepreneurs. However, money should not seem like you are more important than the time resource. The temptation to do everything yourself to save a few dollars is a common mistake ... Here are 4 reasons to manage time with more rigor than your cash.
Too late! Timing is essential. Have a "good" idea is one thing, but it will only work if your offer is sold at the right time. And as an entrepreneur, you will be constantly confronted with the law of Hofstadter namely that "it always takes longer than expected, even taking into account Hofstadter's law." If you are not really looking for to save time even if at a cost, you increase your chances to pitch your startup.
You're not alone. Wasting time is to let the competitors following distance or you take the risk of new players to settle and put you in trouble. And this is even more true in the field of new technologies where everything goes very quickly. So looking to save time but also win by making regular "sorting" on what is effective and what is not within your company to outpace the competition.
The longer ... at least that's good. The majority of startups fail mainly due to problems between partners that often occur after interminable delays in product development. One of the partners is discouraged by seeing the company stagnates and leaves the adventure leaving other associated demoralized and unable to advance. It is a kind of curse that affects a multitude of startups that eventually die while their offer was never marketed.
"Time is money." We all know the saying that applies perfectly to entrepreneurship. Wasting time, so it is losing money. A company that supports fixed costs (salaries, rent, taxes, insurance ...), there is no interest to save money by limiting hiring or use of outside providers if it is to finally make treading water for 6 months. Whether you, your partners or your employees, everyone should focus on its area of expertise so that each day is invested profitably in terms of results.
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