Growing up in Denver my wife, Kathy, loved skiing. In the early years, Kathy and I would throw a few things in a bag and head to the airport for a fun weekend on the slopes. Then as our family started to grow from one to four children things changed. Packing was a gargantuan job. Helmets, mittens, winter coats, ski pants, long-johns, goggles and everything filled four duffles and three suitcases. We had so much stuff, we had to hire a car service to get us to the airport. We just didn’t have a car big enough to carry it all.
Adding expenses in the early stages of a startup is like starting your marriage with four kids. The burden you carry from the start can be enormous. Family expenses naturally grow slowly but startup expenses can quickly get out of control.
It may be your dream to have Class A office space filled with beautiful furniture and lots of employees, and that’s great. What’s not great is trying to buy your dream overnight. Your dream will become a nightmare.
Loading a startup with expenses early is dangerous. It sets a high bar for sales to overcome. The longer it takes for sales to exceed expenses, the more cash you burn.
It takes time…
To learn the real needs and motivations of your market
To understand buying behaviors
To hire and develop a coordinated leadership team
To generate leads
To build a sales pipeline
To work a prospect through the sales cycle
To get your pricing and deal structure right
To close the deal
To deliver the product
To collect the money
To make money
Give yourself time. You deserve it. Your people deserve it. Your dream deserves it.