Nataliey Bitature argues that founders need disciplined financial habits to survive. Don't quit your day job or pull money out until the business reliably covers your expenses. Document cash flow, keep other income sources, and let the company grow before it has to feed you.
You really need discipline to run a business, cuz if you're moving money in and out of the business, you're just hurting yourself. You're shooting holes in your own plan. So it takes discipline, it takes habits, and if you want your business to last, to grow to 10 years, to grow to pay your kids' school fees, to pay your rent in your house, to look after everything in your life, you need to let it grow. You need to feed it and nurture it and let it grow to a point where it can support you. Don't quit your job before the business has reached that point. Don't remove your other sources of income. Because you do need income. I understand that it's hard to watch something grow and put in all this effort and you're not actually benefiting from it, but you have other benefits. You get to tell people you have a business, you get to meet a big network of your customers, you get to engage with your stakeholders. There are many other things your business is going to do for you, but don't take money out that way. You need to be disciplined about it. Write everything down, build good habits, be strong about it. Some months you will suffer, you will be stressed out, But rather you are stressed than your business is stressed. Think of it that way, because the more you take out of your business, the less likely it's going to survive.
