As we grow up, moments of stark realization are inevitable. Our parents don’t actually know everything. Dinosaurs don’t still exist. A whole dollar isn’t really that much money.
For Warren Shaeffer, one of those moments meant coming face to face with the darker side of entrepreneurship at a young age.
“When I was 12 years old, my father’s business totally failed. He went bankrupt and I ended up living with another family when I was 13.”
In Warren’s opinion, there are two ways that businesses die. Number one, they run out of money – like what he witnessed up close and personal as a preteen.
Or, number two, the founder quits.
Ensuring your company is making money – and not losing it – is the most basic operation of a business, one every founder, investor, and startup employee is constantly taking a pulse on.
But quitting, giving up, moving on from the project you began… That’s a less discussed, yet very real, founder struggle.
And the key that helps not only prevent these negative outcomes, but gives a company the traction to find massive success… is having the light of a North Star to guide them.
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