American Artisans at Sundance Catalog, Small Business School Case Study Guide

The Case Study Guide for this Episode

last updated: 12/22/04

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Cash is King



Wouldn't you love to know who turned Robert Redford down for that loan? What is that bank saying today? What opportunities did they miss by not working with this new small business owner?

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.

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	Key Ideas of this episode




1.		Put Your Own Skin In The Game

2.		Admit What You Don't Know

3.		Hire People Who Have Done What You Want To Do

4.		Live, Eat, Sleep The Business

5.		Use A Famous Face

6.		Attach Yourself To A Cause

7.		Be Thoroughly Authentic

8.		Build A Brand

9.		Buy As Much Technology As You Can Afford

10.		Sell A Lifestyle, Not A Product

11.		Understand The Competition

12.		Anticipate Poor Cashflow

13.		Expect To Fail

		about these case study guides...

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.

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

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