In this article in Business in Greater Gainesville, Mark Long suggests a number of ways to brand a new venture — and “approach a venture capitalist” doesn’t top the list. If you’re looking to finance a startup or new business, check out Mark’s list of sources for funding in the September issue of the magazine. Mark Long is the director of incubation services at UF; in that role, he directs both UF Innovate | The Hub and UF Innovate | Sid Martin Biotech.
My mother used to tell me the magic words were “please” and “thank you.” But when you’re an entrepreneur, you learn the real magic words are “cash flow.” Period.
Many business publications tell us eight out of 10 entrepreneurs crash and burn within the first 12 to 18 months of starting their company, and most fail primarily due to becoming cash poor.
Comprehending cash flow management, understanding where your cash has been spent and knowing if spending that cash has moved you closer to market (or helped you better identify your market) are keys to success.
But where does a company get money in the first place?
Learn more about Venturing Out? Here’s How to Find Funding.