When you run a company, there are challenges every day and sometimes you laugh at instances when things do not go your way. In the last several months, I have finally begun to realize savings & financial planning are critical in running a business (or for that matter in our every-day life).
Difficult to borrow when there is a dire need: When there is a need for you to borrow, everyone will be cash tight (they may/will really be cash tight). 1 out of 10 people you talk to may have liquid cash in hand. You may have to hit a 100 people to find 10 prospective lenders and 1 on 10 maybe willing to lend you money. It is a process.