Your Business's Greatest Asset Is Time

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Starting a business comes with a lot of challenges, and at the top of that list for many entrepreneurs is money. However, money isn’t always the main reason businesses fail. According to research, the top two culprits are a lack of product-market fit and an unreliable team. Finance comes in third. Now, this isn’t to say that money doesn’t matter. A deep purse is undeniably powerful, but there’s something even more valuable: TIME.

Think about it—while you can always raise more funds, hire a better team, or refine your product to suit the market, none of that matters if you run out of time.

Let’s consider Cash Runway,

Cash runway essentially measures how long your business can stay afloat at its current cash burn rate without additional funding. The more cash you have, the longer your runway. And the longer your runway, the more time you have to figure things out—whether that’s improving your product, testing the market, or recovering from setbacks.

The goal is to keep the business operational for as long as possible with the funds you have, giving yourself time to either raise more money or achieve profitability. In a way, raising funds is about more than covering business expenses; it’s about buying time.

Time Is What Defines Winners

The longer your business survives, the better your chances of success. That’s why focusing on long-term strategies is more critical than chasing short-term profits.

Consider this: In 2023, CBInsights reviewed 278 failed startups. Some had raised up to $400 million in funding. So, if money wasn’t the issue, what was it? The real problems were a lack of long-term strategies, poor management, fraud, and bad timing.

Take Amazon, for example. Jeff Bezos understood the value of time better than most. Early critics were quick to point out Amazon’s losses, but Bezos remained undeterred, saying: “Well, we are a famously unprofitable company, and that is a conscious strategy and an investment decision.”

His plan? Play the long game. Bezos wasn’t focused on what was important now—he was focused on what would matter 10 years from now.

While others debated the advantages of brick-and-mortar stores, Bezos bet on the Internet and online marketplaces, understanding that consumer behavior would eventually shift. And he didn’t stop there. He also asked, What won’t change?

Building Your Time Chest

So, how can you leverage time to your advantage as an entrepreneur? It starts with a mindset shift: think long-term. Here’s how you can build a “time chest” for your business:

1. Think ahead: Focus on what will remain relevant in the next 10–20 years.

2. Put consumers first: Deliver quality, fair pricing, and reliability.

3. Manage your finances wisely: Stretch your runway and buy yourself more time.

4. Build a strong network: Relationships in your industry can open doors and provide support.

Time is more than just a resource—it’s the foundation for everything else. Understanding its value will not only help you survive the tough early days but also future-proof your business.

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Until next time, Best Regards.

Alex