Entrepreneurs are interesting people. They are talented, insightful, creative and visionary. They have an ability to make an idea or concept into a reality. Taking something out of thin air and making it tangible.

But when it comes to money and finances, eh, that is not always their forte.

So as a financial professional, I find myself often working with these folks who have found a way to get funding but not take their project to the next level. That’s why I came up with a list of rules for working with what I call the Funded Entrepreneur.

  1. Be bonded by trust. Be a trusted advisor and partner.
  2. Understand their ideas and share in their passion for their business. Look for and suggest options for their business they hadn’t thought of.
  3. Be the voice of reason.
  4. Advice does not dictate. Have a dialogue between you so that neither of you lectures the other. Know when to stop talking and listen.
  5. Help them understand their finances at a high level and in the context of their business and markets. Stay out of the weeds.
  6. Be the financial brains while they are the creative and director of the whole business.
  7. Show them how to grow financially while growing creatively.
  8. Help them understand when to stay with a business and when to consider an exit
  9. Plan for the future and ask tough questions.

We love numbers. If you are looking for help with your finances, write to us at info@tfosolutionsllc.com. TFO Solutions is dedicated to helping entrepreneurs and business owners with their financial strategy from the back office to the boardroom.

*Photos courtesy Unsplash (photographers Adeolu Eletu and Daria Nepriakhina