Ahh, what a simple thought. And surely a mandate that must be followed as in reality it is a major, if not the main, reason to be in business. It is also a statement that is much easier said than done.
The wives of my partners - Helen Larsen, Susie McClellan and Monica Murphy - all made enormous contributions to our company's ability to adhere to this mantra.
The partners of NetGain agreed on a strategic plan to dramatically reduce our early expenses. We did not pay ourselves a single cent for many months. Truly, there was no bacon to bring home and nothing to fry in the pan.
With the total support of all four wives we were able to forego borrowing money, eliminate the associated ownership dilution, keep initial debt to a minimum, and position the business to achieve a free cash-flow position by the end of our second year.
As previously shared, I believe much of business success comes down to great teamwork and collaboration. When this is true both in the office and at home, your company will have a super chance to make more money than you spend.
