DROOM – Don’t Run Out Of Money
John Nesheim has a great blog post on how to manage the process of running out of money. Great post…and I totally agree. As CEO, when you’re company is burning cash, you should know the details. Here’s the bottom line:
Plan on running out of cash. Then execute your plan. Get going.
Worrying is not going to make things better. Gather your core team.
Build your recovery plan. Be wise about what you say to employees and
investors. Get the entire company involved. More help is better than
you alone. Do not try to do a miracle single handed and in secret.You
need all the help you can get, even including spiritual assistance.
When you can manage running out of cash, you will have added one of the
most powerful skills to your tool chest. Use it to build your unfair