Whether you’re starting a business from scratch or acquiring one that already exists, you need the funds to make it happen. We’ve talked in length about different TYPES of funding options and how you can do a bit of “hacking and stacking” to work it out in your favor. (Catch up here.) 

But what happens after the deed is done? After all the research, paperwork, and time, the money is finally yours, and you’re ready to take the small business world by storm. You want to make the most of this opportunity and this investment; however, there are seven common post-funding no-nos that many small businesses make once that money hits their account.

1. Poor Planning: 

Not having a clear plan or strategy for how you will use your funding is a big no-no. You gotta have a detailed plan in place for how you’ll use these new funds to grow your business and achieve your goals. Every dollar should have a job and a purpose.

2....