Cash preservation and emotional neutrality are the two rules that keep businesses alive. Never let cash run out, because you can't recover from that like you can from bad marketing. Make strategic decisions only when you're calm and thinking clearly, not in high-stress moments.
Got 2 rules in business, and if you follow these, life gets a lot easier. Unfortunately, most people don't follow these, and that's what causes the biggest problems in their business. Think about this. You can survive a poor launch. You can survive a poor marketing campaign. But guess what? You cannot survive running out of cash. When you run out of cash, that's the biggest challenge to your business. That's number 1. Never run out of cash. Cash preservation is really important. And number 2, the most important thing, never make a decision in your business when your emotion is high and intelligence is low. You always should be making decisions when intelligence is high and emotion is low. A lot of people in their businesses really don't follow these 2 rules. I want you to think about this for your business. Are you following the 2 rules where you conserve cash? Because a business without money is very challenging to run. And number 2, never make a decision in a state of high emotion.
