Kevin O’Leary recently shared some crucial advice for business founders on X.
On Sunday, O’Leary said that the quickest way for a business to fail in its first year is for the founder to trust their own financial predictions.
He added that every founder has an optimistic growth projection, commonly referred to as a “hockey-stick forecast”, but it’s seldom accurate.
O’Leary, a successful entrepreneur and investor, emphasized the importance of flexibility and cash preservation until the real business momentum is understood. “Stay flexible, pivot, and preserve cash until you know the real velocity of your business,” he advised.
O’Leary’s advice comes as a valuable insight for entrepreneurs, especially those in the early stages of their business.
His emphasis on the importance of cash preservation and flexibility aligns with the common business wisdom that cash flow is the lifeblood of any business, and the ability to adapt to changing circumstances is a key factor in business survival and success.
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