Call on friends in a crisis.
You started your business to control your financial destiny. But what do you do when you're blindsided by a crisis that threatens your company's very survival? Do you know people you can call at 2 a.m. who would be willing--and able--to bail you out?
"If I ever needed cash in the middle of the night--let's say $50,000 at 2 o'clock in the morning--I have certain contacts I could use in an emergency," says Rand Stagen, 28, founder and publisher of The Met magazine, a Dallas publication that covers the local entertainment and night-life scene. "Every entrepreneur needs at least one [person they can go to in an emergency], because you never know. What if your business is about to bounce payroll and you have no traditional resources to go to?"
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