Management Tip of the Day: 3 Things to Know About New Ventures

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Are you having trouble viewing this email? If so, click here to see it in a web browser. HOME   |   BLOGS   |   THE MAGAZINE   |   BOOKS   |   AUTHORS   |   STORE RSS   |   Mobile JUNE 25, 2010 3 Things to Know About New Ventures All new ventures are fragile. Even if revenues are growing, chances are your company hasn't yet hit breakeven. Be sure you know these three things to manage through this precarious time: How many days you have to live. Businesses fail because they run out of cash. Knowing exactly how many months or days you have to live can help you better manage costs and your funding strategy. Why you are doing this. Success requires hard work and constant attention. If you don't know exactly why you should make the effort, neither will your funders. The top two critical issues. Be precise about which two issues deserve the highest priority. These may not be the most urgent, but are the ones that matter most to your venture's success. Today's Management Tip was adapted from "Three Questions for Entrepreneurs" by Scott Anthony. Read the full blog post and join the discussion » Share Today's Tip: RELATED PRODUCT The VC Shakeout NEW! Harvard Business Review Article The cycle is broken. To fix it, VCs must double their returns on investors' capital, significantly scale up the VC asset class, or face the prospect of the industry's shrinking in half. ADVERTISEMENT Follow the Tip: PREVIOUS TIPS 3 Tips for Getting Out of Your Boss' Shadow Don't Let Your Strategy Distract You How to Decipher (and Achieve) Success at Your Company 3 Ways to Start Your Overseas Job Transition 3 Ways to Motivate Your Board of Directors Managing Up As a Gen-Xer 3 Steps to Make Your New Hire Productive Prepare for the Next Defining Moment 3 Cold Call Tactics that Increase Sales Use Words, Not Numbers, to Understand Your Customers BEST SELLERS Guide to Persuasive Presentations HBR's 10 Must Reads: The Essentials Financial Intelligence Collection HBR's 10 Must Reads on Managing Yourself Guide to Better Business Writing Job Seekers, Take Note Whether you've been laid off or are considering a job change, HBR's Guide to Getting a Job will help ensure that your next move is the right one. Only $19.95. Buy now » UNSUBSCRIBE   |   UPDATE YOUR PROFILE   |   MORE EMAIL NEWSLETTERS   |   PRIVACY POLICY Was this email forwarded to you? If so, sign up to start receiving your own copy. ABOUT THIS MAILING LIST You have received this message because you subscribed to the "Management Tip of the Day" email newsletter from Harvard Business Review. If at any point you wish to remove yourself from this list, change your email address, or sign up for other email newsletters and alerts, please visit the Harvard Business Review Email Newsletter Preference Center. ADVERTISE WITH HBR This enewsletter is read by thousands of decision makers every day. Learn more about connecting your brand with this audience. Copyright © 2010 Harvard Business School Publishing, an affiliate of Harvard Business School. All rights reserved. Harvard Business Publishing | 60 Harvard Way | Boston, MA 02163 Customer Service: 800-545-7685 (+1-617-783-7600 outside the U.S. and Canada)