Comments on: How to face cash-flow issues in a start-up http://blog.penelopetrunk.com/2009/07/09/how-to-face-cash-flow-issues-in-a-start-up/ Advice at the intersection of work and life Thu, 18 Mar 2010 22:16:55 -0600 http://wordpress.org/?v=abc hourly 1 By: Kieran Smith http://blog.penelopetrunk.com/2009/07/09/how-to-face-cash-flow-issues-in-a-start-up/comment-page-2/#comment-221492 Kieran Smith Wed, 24 Feb 2010 03:39:04 +0000 http://blog.penelopetrunk.com/?p=2837#comment-221492 Penelope, why is it that no matter what I type into a Google search box, your name comes up. Even as a subscriber to your blog, I'm still finding new things and running into articles that inspire me. You always have just what the doctor ordered - and for that... THANK YOU! Penelope, why is it that no matter what I type into a Google search box, your name comes up. Even as a subscriber to your blog, I'm still finding new things and running into articles that inspire me. You always have just what the doctor ordered – and for that… THANK YOU!

]]> By: The Queen of Resiliency | Connected Parenting http://blog.penelopetrunk.com/2009/07/09/how-to-face-cash-flow-issues-in-a-start-up/comment-page-2/#comment-216217 The Queen of Resiliency | Connected Parenting Sat, 12 Dec 2009 01:44:13 +0000 http://blog.penelopetrunk.com/?p=2837#comment-216217 [...] One of my favorite posts on Penelope Trunk’s Brazen Careerist is A case study in staying resilient: My divorce.  Resilience is a big theme around here at Connected Parenting and Penelope Trunk, the self-styled “Queen of Resiliency,” is quite the role model.  Psychology Today seems to think so too. [...] [...] One of my favorite posts on Penelope Trunk's Brazen Careerist is A case study in staying resilient: My divorce.  Resilience is a big theme around here at Connected Parenting and Penelope Trunk, the self-styled "Queen of Resiliency," is quite the role model.  Psychology Today seems to think so too. [...]

]]> By: The Queen of Resiliency « Connected Parenting http://blog.penelopetrunk.com/2009/07/09/how-to-face-cash-flow-issues-in-a-start-up/comment-page-1/#comment-205507 The Queen of Resiliency « Connected Parenting Thu, 01 Oct 2009 20:01:30 +0000 http://blog.penelopetrunk.com/?p=2837#comment-205507 [...] One of my favorite posts on Penelope Trunk’s Brazen Careerist is A case study in staying resilient: My divorce.  Resilience is a big theme around here at Connected Parenting and Penelope Trunk, the self-styled “Queen of Resiliency,” is quite the role model.  Psychology Today seems to think so too. [...] [...] One of my favorite posts on Penelope Trunk's Brazen Careerist is A case study in staying resilient: My divorce.  Resilience is a big theme around here at Connected Parenting and Penelope Trunk, the self-styled "Queen of Resiliency," is quite the role model.  Psychology Today seems to think so too. [...]

]]> By: Sami http://blog.penelopetrunk.com/2009/07/09/how-to-face-cash-flow-issues-in-a-start-up/comment-page-1/#comment-205193 Sami Thu, 01 Oct 2009 07:56:49 +0000 http://blog.penelopetrunk.com/?p=2837#comment-205193 I wouldn't do you the disservice of assuming you are not a perfectionist: "Because <b>entrepreneurs knows</b> that having a successful startup is really about not quitting." This one, I'm not sure if it's intentional, if you meant "own" instead of "do," or what: "You need to decide for yourself how much you want to do your company." Your blog is the most useful thing aol news has ever indirectly introduced me to! I wouldn't do you the disservice of assuming you are not a perfectionist:

"Because entrepreneurs knows that having a successful startup is really about not quitting."

This one, I'm not sure if it's intentional, if you meant "own" instead of "do," or what:

"You need to decide for yourself how much you want to do your company."

Your blog is the most useful thing aol news has ever indirectly introduced me to!

]]> By: Closer To The Ideal » Blog Archive » Real entrepreneurs understand that start-ups are insane http://blog.penelopetrunk.com/2009/07/09/how-to-face-cash-flow-issues-in-a-start-up/comment-page-1/#comment-190504 Closer To The Ideal » Blog Archive » Real entrepreneurs understand that start-ups are insane Tue, 11 Aug 2009 04:57:07 +0000 http://blog.penelopetrunk.com/?p=2837#comment-190504 [...] Penelope Trunk, on the folks who do not understand her, and the entrepreneurs who do: I’m going to answer the question people ask me most often: “What do I do when my company is out of money?” [...] [...] Penelope Trunk, on the folks who do not understand her, and the entrepreneurs who do: I’m going to answer the question people ask me most often: "What do I do when my company is out of money?" [...]

]]> By: Grant Crow http://blog.penelopetrunk.com/2009/07/09/how-to-face-cash-flow-issues-in-a-start-up/comment-page-1/#comment-190219 Grant Crow Wed, 05 Aug 2009 13:13:33 +0000 http://blog.penelopetrunk.com/?p=2837#comment-190219 Penelope As I'm on my 5th start up, I totally related to this post. My most recent, http:www.mytalentplace.co.uk is all about onine career advice for students. The US companies I've worked with in the past have generally taken an approach of spending big as start up (mainly on marketing) to stop competitors from gaining a foothold, but its been rare that profitability has beenr reached. I'm trying the approach of starting really small (me, myself and I) and outsourcing everything else until I really need to take staff on. So while cashflow is an issue, it's not as painful an issue as it could be. Penelope
As I'm on my 5th start up, I totally related to this post. My most recent, http:www.mytalentplace.co.uk is all about onine career advice for students. The US companies I've worked with in the past have generally taken an approach of spending big as start up (mainly on marketing) to stop competitors from gaining a foothold, but its been rare that profitability has beenr reached. I'm trying the approach of starting really small (me, myself and I) and outsourcing everything else until I really need to take staff on. So while cashflow is an issue, it's not as painful an issue as it could be.

]]> By: watch movie http://blog.penelopetrunk.com/2009/07/09/how-to-face-cash-flow-issues-in-a-start-up/comment-page-1/#comment-189652 watch movie Fri, 24 Jul 2009 12:13:11 +0000 http://blog.penelopetrunk.com/?p=2837#comment-189652 Unemployment departments create programs like these because they know it's cheaper in the long run to keep people employed through a downturn than let them be laid off and risk having to pay them full unemployment for months and possibly not get more income from them for a long time. Unemployment departments create programs like these because they know it's cheaper in the long run to keep people employed through a downturn than let them be laid off and risk having to pay them full unemployment for months and possibly not get more income from them for a long time.

]]> By: Zeljko http://blog.penelopetrunk.com/2009/07/09/how-to-face-cash-flow-issues-in-a-start-up/comment-page-1/#comment-189166 Zeljko Sat, 18 Jul 2009 02:50:14 +0000 http://blog.penelopetrunk.com/?p=2837#comment-189166 Maintaining a healthy cashflow is a struggle for many businesses, big or small. In fact, quite often the bigger you are the bigger you problem can be. I quite envy the 'cash' type of business ( coffee shop, takeaway etc ) as they don't have to chase customer accounts. We have a Sydney printing business that struggles with late payers quite often and as a result leaves us dangerously low on funds. The main focus is of course to have sales, but to also chase your account customers and perhaps limit their account trading terms to only 7 or 14 days. When that time is up call them immediately and ask them politely for your money. Remember, the squeaky wheel will get the grease. So don't be afraid to ask for your money. You've earned it. Maintaining a healthy cashflow is a struggle for many businesses, big or small. In fact, quite often the bigger you are the bigger you problem can be. I quite envy the 'cash' type of business ( coffee shop, takeaway etc ) as they don't have to chase customer accounts. We have a Sydney printing business that struggles with late payers quite often and as a result leaves us dangerously low on funds. The main focus is of course to have sales, but to also chase your account customers and perhaps limit their account trading terms to only 7 or 14 days. When that time is up call them immediately and ask them politely for your money. Remember, the squeaky wheel will get the grease. So don't be afraid to ask for your money. You've earned it.

]]> By: Marsha http://blog.penelopetrunk.com/2009/07/09/how-to-face-cash-flow-issues-in-a-start-up/comment-page-1/#comment-189127 Marsha Thu, 16 Jul 2009 21:41:00 +0000 http://blog.penelopetrunk.com/?p=2837#comment-189127 Just what I needed to read today!! Just what I needed to read today!!

]]> By: Yu-kai Chou http://blog.penelopetrunk.com/2009/07/09/how-to-face-cash-flow-issues-in-a-start-up/comment-page-1/#comment-189105 Yu-kai Chou Thu, 16 Jul 2009 09:42:44 +0000 http://blog.penelopetrunk.com/?p=2837#comment-189105 Taking a midnight break from work, and saw your blogpost. I think it's awesome that you went through another financial hurdle. We all know there will be lots more, but every jug of water is helpful for entrepreneurs to cross the desert. At FD, we've been through a lot of financial troubles and stress too, and boy is it not fun. Eventually I adjusted to the mindset that if all else fails, at worse everyone will just leave the company, and I'm by my own running the startup without salary, which is similar to the state that I started with. When I started the company, I was excited and life was extraordinary. I would be back to that state again, except that now I have a product, some users, some brand, and lots more. Once I think of it in those terms, I feel a bit better. However, I imagine it's a bit tougher when you are venture backed. Being bootstrapped does have some advantages in that aspect. I wish Brazen Careerist the best of luck, and let me know if you ever need help with anything. Take care! Back to work....hope to finish today's task by 4AM :D Taking a midnight break from work, and saw your blogpost. I think it's awesome that you went through another financial hurdle. We all know there will be lots more, but every jug of water is helpful for entrepreneurs to cross the desert.

At FD, we've been through a lot of financial troubles and stress too, and boy is it not fun. Eventually I adjusted to the mindset that if all else fails, at worse everyone will just leave the company, and I'm by my own running the startup without salary, which is similar to the state that I started with. When I started the company, I was excited and life was extraordinary. I would be back to that state again, except that now I have a product, some users, some brand, and lots more.

Once I think of it in those terms, I feel a bit better. However, I imagine it's a bit tougher when you are venture backed. Being bootstrapped does have some advantages in that aspect.

I wish Brazen Careerist the best of luck, and let me know if you ever need help with anything. Take care!

Back to work….hope to finish today's task by 4AM :D

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