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This is a dangerous approach. Sure, watch your meagre cash resources with eagle eyes, but you should really beware of false economies. Cash is a tight resource
by swombat 17y ago
This is a dangerous approach. Sure, watch your meagre cash resources with eagle eyes, but you should really beware of false economies. Cash is a tight resource for any start-up, but there's one resource that's even tighter: time.
If you have a choice between spending $10 or spending 10 hours, don't be silly. Spend the $10, and keep the 10 hours focused on something that provides more than $10 of value to you (like making a sale).
- mmaunder 17y agoDon't forget though that spending money costs time. You need to spec, buy, deploy and manage those new servers or employees. And when you decide you need more money to trade for time, you need to pitch, close and maintain the new investor relationship. Of course at that point you're actually trading equity for time.
- fpgeek 17y agoIn the end, it's a balance. You need keep track of (and understand) the fluctuating exchange rate between time and money as your business evolves.