Anticipate Poor Cashflow. Murphy's Law reins supreme. If something can happen, it will. Even things we can't imagine happen.

Topic for Discussion: What is an entreprenuer's biggest Achilles' Heel?

Answer: Optimism. It is also an entrepreneur's greatest strength. You know that our greatest strength always becomes our greatest weakness.

Harry warns us that he entered into business with a background in corporate finance law and he had a partner who was the CFO in a $200 million company. With all of their knowledge, they failed to plan for poor cashflow. Hope that makes you feel better.

You think about it: What would you do if you needed a big pile of cash quickly?

We need bankers, vendors and even customers to be our friends and to buy in to our goals. These people can be our best hedge to prevent us from falling into bankruptcy.