“The lack of judgement that comes from lack of cash can be debilitating.”
Unless you’ve been there, and been there with your money, it’s hard to imagine the feeling. One of the reasons entrepreneurs get frustrated with people trying to give them advice is, if you haven’t had the experience of what it feels like to be on the brink, it’s difficult to imagine.
There were about ten times during the history of IncentOne that I wondered whether we would make payroll. I remember one instance when one of our healthcare customers owed us $700,000 and the thought crossed my mind to drive to Connecticut to collect the money because we were desperate. Think of how ridiculous that would have been—me walking into a national health plan like it was a local check loan operation and saying—“Hi, would you mind cutting me a check for $700,000?”
When we don’t have cash, it is difficult to make good decisions, and even more difficult to make strategic decisions.
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