Nothing spells disaster for a startup like poor financial health. Whatever the industry, however great the idea, if the numbers just don’t add up, there will be little recourse to get things back on track. Even if a business is still above water, any uncertainty over the numbers can destroy investor confidence and jeopardize strategic decisions, making it the quickest way to a steep and slippery slope. As those vitals take a downward spin, the dream of business ownership could be over before it has even begun.
Many projects fail due to financial hurdles, and one studies have concluded that running short on capital was the second most likely reason for a startup’s failure. But, with a clear-minded and methodical approach, you can keep your startup’s financial health on track and ensure that your well laid plans come to fruition.