Thought I would startup the old “Business Lesson Of the Week (BLOW)” posts I used to do but stopped for some unknown reason. I think this will be a good personal discipline again to review my week as we should really never stop learning.
This week really enforced to me that launching is a great word for a startup because its exactly like a rocket launch once started there is no wait button and no reverse. Its forward only with the ability to make some minor corrections in flight path but thats all so if things go wrong no doubt a bang will result. You other goal of course is to minimise the collateral damage from the ensuing explosion. So make sure the chips your putting on the table are cashable and you can bear the costs of any resulting damage. Its also important to be honest 100% to the company investors to make sure the risks are understood and where the company is heading. Those liquidators/receivers sure dont mess around and I am glad my conservative approach over the years has never seen me on the end of one of those companies.
Its also important for us entrepreneurs to keep our reality distortion fields in check make sure we dont let our employees be affected too dramatically by our those explosions that we can make from time to time, as its never acceptable to gamble with other peoples money without their knowledge.