How to take care and manage your hard earned capital..
- Be careful with money. "Money is in some respects life's fire; it is very excellent servant, but a terrible master."
- Pay your debts on time. "Through thick and thin, even in times of economic crises. I never failed to pay my obligations on time."
- Create some wiggle room in your financial planning. "I have simple rule of thumb for that. Based on your business plan and financial forecast, determine hoe much money you will need to grow your start-up company to cash-flow positive level, then double that amount to brace yourself for contingencies and other unforeseen expenses. That is how much in capital investments you should try to raise."