0816_TOEFL-Test-and-Score-Manual-1997

Money
Matters
Entrepreneurs are obsessed with money. We fret about raising it,
saving it, borrowing it, and spending it.
This chapter has all sorts of great ideas related to cutting costs
and financing your business. One thing I’ve learned about money: many
projects cost three times as much as you budgeted and usually take twice
as long to complete—especially in the media and entertainment world.
Optimistic entrepreneurs often fail to consider how they can support
their families while waiting to draw a salary. New business owners are
notorious for overestimating revenues and underestimating expenses.
It’s a blessing if you have someone else pay your living expenses—at
least during the first year or two. My husband, Joe, has always had a “real”
job, with good health insurance benefits. Through the years, he’s provided
a stable financial foundation and health insurance for our family while
I’ve maxed out our credit cards and gambled everything we had on several
ventures, including SBTV.com (Small Business TV), the first online television
network exclusively covering small business news and Back on Track
America, a cross-country speaking tour cosponsored by Amtrak in 2001
after the terrorist attacks on 9/11.
SBTV.com, launched in 2000 with marketing support from CNN.com,
was way ahead of its time. We produced hundreds of high-quality video
clips, but unfortunately, they were unwatchable on a dial-up connection.
We sold that company in 2003 and now you can watch broadcast quality
clips on 201greatideas.com.
Although I had a syndicated column, a book contract, and a syndicated
radio report, my first years in business were challenging. I was