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What the Banker Found

Keep meticulous financial records from Day One, or pay the price later.

This story appears in the October 2010 issue of Entrepreneur. Subscribe »

"Always dress for the job two levels above yours." That bit of advice came from my first real boss when I was a fresh-out-of-college newbie banker. She meant the advice literally. But over my corporate and entrepreneurial career, I've seen how important "dressing up" figuratively is, too, for a startup .

If your goal is to qualify for a bank or loan a year or two down the road, start dressing the part now. That means, among other things, having a good financial management system.

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