Lessons Learned Entrepreneurial Finance 

Background

22 years

Companies

Variety of positions 
 

Personal lessons learned as a Finance person

In God we trust  - all other bring facts 

A little bit of inaccuracy saves tons of explanation 

If you win the Rat race you are still a RAT 

If you feel like your thrashing, If you feel like you’re burned out, if you feel like you want to be somewhere else there’s one thing you can certainly depend on….your not the first to notice this about yourself.  The sales folks may be able to hide these feelings most of us analytical types can’t 

At some point you will end up on the other side of the table 

Get Operational experience.  Live in the other functions shoes for awhile.  You will be amazed at the increase in respect you receive and influence you gain.   

Don’t complain about other functions with Fiaince folks.  Spend less than half of your work social time with other finance folks. 

If the BOD and CEO are shooting at each other…they’ll both ask you for ammunition and then they’ll both shoot at you at the same time. 

Be kind and respectful to everyone, they deserve such treatment, even those who don’t reciprocate 

Get mad, let it out quickly and don’t bother about getting even. 
 
 

Business lessons learned as a Finance Person 

Cash is and always will be king.  Multiply the importance of this a hundred fold if you’re an entrepreneur. It is the most precious resource. 

Never spend the next six month’s cash…OK...I have done this and it sucked 

Gross margin is a useless ratio with your first ten customers 

ASP is a useless number until you reach profitability or your market becomes saturated. 

Ignore ROI until you have a return.   

Ignore cost of capital when you don’t have any other option 

Get comfortable asking for money, help and anything else you need 

Use forces don’t fight them.