Key Takeaways

It’s possible for a company to be profitable on paper and still fail due to a lack of cash.

Avoiding financial planning is like flying a plane without a dashboard.

You’ve built a business from the ground up — congrats!

But even the most innovative founders can make mistakes when it comes to finances. After all, every aspect of your business is supported by financial discipline. When mistakes are made early on, they can snowball into significant problems.

Based on my experiences and those of other founders, the same mistakes seem to be repeated. Thankfully, with awareness and discipline, these flaws in financial strategy can be avoided. Here are seven financial mistakes even smart founders make, and how to avoid them.

1. Mixing personal and business accounts

Failing t

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