The Zigzag Principle by Christiansen Rich

Author:Christiansen, Rich [Christiansen, Rich]
Language: eng
Format: epub
Publisher: McGraw-Hill
Published: 2011-08-30T14:00:00+00:00

FINANCIAL RESOURCES

How much in the way of financial resources are you willing to invest? How do you want to allocate your financial resources? In the early days of entrepreneurship, I used to be more willing to mortgage my house or use my emergency buffer to help fund my businesses. Now I have a policy: I absolutely will not mortgage my house or dip into my safety net. We will talk more about this in Chapter 7 when we talk about guardrails.

RELATIONSHIP CAPITAL

We have already talked about relationship capital in Chapter 1. Think carefully about how much relationship capital you want to use when driving to profitability. One of the reasons I choose not to sell to my close family and friends is because I am not willing to expend all my relationship capital in one fell swoop. It is important in the early stages of your business not to drain your whole relationship bank account. Selectively choose a few key individuals who can help you, but carefully define and limit how much relationship capital you’re willing to spend. Then make sure you give those people a “thank you” and put something back into their relationship bank account. Gratitude goes a long way with relationship capital.

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