Struggling entrepreneurs around the world are in deep envy of Nick D’Aloisio’s business acumen. Last month, the 17-year-old sold Summly, his news-aggregation app, to Yahoo for a reported $30 million! If and when D’Aloisio starts another company, it will certainly be, to put it mildly, well-funded.
Of course, most entrepreneurs do not have access to that kind of cash. The average business takes years to break even, let alone post a profit. Two-time entrepreneur Jordan Eisenberg, founder of UrgentRX warns that, “Few things in a start up are more important than carefully managing cash. At the beginning, before you have investors, it is not unusual for you (and possibly employees) to forego salary for extended periods of time. Do whatever it takes to build your product and get it to market.”
Read the full article on readwrite.com: How To Staff A Startup With (Almost) No Money