I often get asked the following question: “If you had to give one piece of advice for entrepreneurs what would it be?”
Here’s my answer:
Revenue must exceed expenditure.
The more it exceeds it by, the better.
I like doing cool stuff as much as the next guy, and no I wouldn’t sell tobacco to kids in Africa to make money. But it becomes really hard to do cool stuff if your business doesn’t survive.
Succinct 🙂
That is, unless government bailouts are available. ; )
Turns out that advice applies to households too. 🙂
great… Nothing better can be said about it. More and more revenue and less and les expenses. That is how startups can survive.
More on Startup and its survival strategies