• The Entrepreneurial Mind

Dr Jeff Cornwall

Co-founder of The Entrepreneurial Mind, serial entrepreneur and professor of entrepreneurship.

  • The Entrepreneurial Mind
Dr Jeff Cornwall

Can I Support Myself with Funds Raised for an Early-Stage Startup?

September 29, 2016August 29, 2016 Jeff Cornwall
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Last reply was April 12, 2021
  1. Ivan
    View September 30, 2016

    Aside from being frugal, it is very important to let the money move in the company. Don’t take anything from it until it is stable.

    Reply
  2. Mobopreneur
    View September 30, 2016

    You can take a portion as your pay. But that’s it. Don’t use the money or you’ll lose everything.

    Reply
  3. Abbie Alonzo
    View April 12, 2021

    It sounds like it can be a slippery slope! From my perspective, a start-up business owner should not take very much money that should be going towards the company unless it was pre-approved, because you definitely don’t want to appear untrustworthy and look like you are deliberately taking money for yourself out of the business funds–it can look shady.

    Reply
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