Further, even after receiving funding, founders still need to ensure that their finances are in order.
In the article “How to Manage Personal Finances; Mistakes Founders Make at Various Stages” published in EconomicTimes.IndiaTimes, Srikanth Bhagavat, MD/Principal Adviser of Hexagon Wealth and Co-Director of the Bangalore Founder Institute, gives tips on how to avoid personal financial blunders both before and after a company receives funding.
Prior to receiving funding, entrepreneurs who fund the launch of their own company must pay special attention to their financial stability.
Budget with a Limited Income
With a lack of a steady income, expenses must be budgeted accordingly.
Cut Down on the Luxuries