7 common money mistakes CPG startups make
This lesson is an article published by New Hope Network.
Read the articleWhat you'll get
A freelance writer quotes the founder of a finance and accounting firm on seven money mistakes CPG startups make, including treating bootstrapping as a rule, trading profit for growth, building your own plant too early, ignoring cash flow, not contesting distributor deductions, taking on too much in convertible notes and handling finance alone. The advice comes from a firm that sells finance services, and the article's opening failure rate has no source, so use the list as questions to ask yourself, not as statistics.
Do this week
List the cash you expect to come in and go out each week for the next three months, and mark the week you would run out if sales come in at half of what you hope.