[psgibbs]

While I agree with this statement in general, it is a bit of a tautology - do cash reserves come from success, or cause it?

I agree that cash reserves help, but I think it's hard to ascertain how big a driver of success it is, given that it is also the result of success.

[ak39]

The "trick" is to get generating as soon as possible. Even moderate revenue matters - not only because moderate expenses have to be paid, but because "generating revenue" as a mindset needs to be cultivated and honed. It's an ethic that few have truly mastered, and one that truly defines an entrepreneur. Generate revenue as a habit.

Yes, there's a balance to be had between doing things that generate revenue now and doing things that matter in the longer run ... but guess what ... that is exactly the nature of every business out there. From the biggest multinationals to the smallest corner shop - they're all balancing between generating shorter term revenues with longer term growth.

If you are spending time only doing long run ("strategic") stuff, you are not a business. The funny thing is, the opposite is not true: i.e. if you're only generating revenue but have little to show for long term direction.