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He had 2 weeks’ cash left in the bank and was facing massive layoffs or potentially bankruptcy. Put up your slide with the 5-6 logos of journals that have covered you. A good friend of mine was features on the front cover of the LA Times business section with a glowing article.
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If you try to vary the number of employees to match, that costs even more cash for hiring, firing, and layoffs. They pay just the smallest bills and let the rest slide. Every dollar in inventory is a dollar less in cash available, maybe even two dollars less if your gross margin is 50%. Then there are the Founders that overreact.
If you try to vary the number of employees to match, that costs even more cash for hiring, firing, and layoffs. They pay just the smallest bills and let the rest slide. Every dollar in inventory is a dollar less in cash available, maybe even two dollars less if your gross margin is 50%. Then there are the founders that overreact.
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