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The Financially Savvy Entrepreneur by Chase Emily Smith

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Chapter 1:The Runway Equation

The Runway, and Its Friendly Companion, Baselining

The constant concern of entrepreneurs is that we’ll run out of money before we can make our business idea a reality. We face this at the beginning of a business venture and several times throughout its life as we jump from tree to tree in the quest for the top. This is what keeps us up at night. Money worries sap our creativity and dampen our drive.

And it’s not only the money to run the business we need to worry about; it’s also money to run our lives while we build the business. As we saw in the Introduction, we are not 9-to-5-ers who receive a paycheck from the top floor. We eat what we kill, and we need to kill enough to feed ourselves, our families, and our ...

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