I spent $47K on conferences in one year and couldn't tell you what I got back.
Now I ask: Will I meet at least 2 people who will pay me?
If the answer is no or I'm not sure, I don't go.
Most things founders call "investments" are actually bets on feeling productive.
If you can't calculate the ROI, you're not investing. You're hoping.
Hope is not a strategy.
When you're broke and tired, you don't negotiate.
You rationalize.
That's how I raised millions on terrible terms and nearly killed my business.
Desperation is expensive.
I raised millions because I couldn't manage thousands.
Buffett was right: the biggest mistake entrepreneurs make is poor capital allocation.
Learn to deploy money before you raise it.