Full Article available in the Resource Page

Introduction
- The misconception of unlimited financing alternatives in business school
- The reality of always scraping for working capital in the business world

The Illusion of Hiring the Best Professionals
- The common advice of hiring the best legal, accounting, and investment banking firms
- The importance of having a firm grasp of the company's current financial status and future goals

Understanding Your Company's Financial Status
- The significance of knowing the management team's strength
- The importance of knowing the total assets, liabilities, net equity, cash available, cash budget, total sales, total income, total equity shares outstanding, and number of shareholders

Making Progress within the Framework of Available Cash
- The need to make progress while considering the company's available cash
- The importance of raising working capital as the company develops and makes progress

The Reality of Raising Capital
- The experience of working on a private placement that took forever
- The reality of how quickly tender offers can be announced and advertised

Takeaway
- Raising capital for your business requires a firm understanding of your company's financial status and goals, as well as the reality of working within the framework of available cash. It is important to seek professional advice, but also to be aware of the illusion of unlimited financing alternatives.