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Writing

Six traps that kill companies.

Your grant budget is a cash-flow commitment Applications are built to score well, not to be survivable. Four decisions you make in an afternoon and cannot revisit. Read →
The award tells you how much. The instrument tells you when. Two companies, identical $1.5m Phase II awards, one of them short in March. The difference is the payment mechanism. Read →
Where the months actually go The gap is not one delay, it is six — and three of them are yours. Read →
How reimbursement lag quietly sets your runway Why a fully funded organization can still be unable to make payroll in March. Read →
The month nobody looked at Cash that dips and recovers, and why the arithmetic does not know you died in between. Coming
Your runway is three numbers Committed, expected, speculative — and why collapsing them hides the question worth asking. Coming
Signed is not spent A purchase order payable in month nine does not change your runway. It should change your decision. Coming
Modelling a decision you have not made yet What a scenario is for, and why six copies of a spreadsheet is not it. Coming
What you owe, and when you actually owe it Cost share, JV contributions and unfunded portions accrue against what you bill — not as a lump at the end. Coming