There is no such thing as a free lunch

I am always asked for my top ten tips for entrepreneurs and other than telling them to read my book there are few rules which apply to all businesses as each is unique in it's own way. The free lunch offer is one of the most important in particular as entrepreneurs tend to be excessively optimistic and often fall for the free lunch offer.

It might seem cynical but there really is no such thing as a free lunch. When any of the founders I work with tell me they have just been offered an amazing deal I immediately ask what is the catch? If it seems to good to be true, then it is almost certainly not quite true. Look at the small print, the conditions, all elements of the deal. Either it is a scam, or they are simply using a short term deal to draw you in and then you will find the terms change dramatically later on.

The absence of any free lunches was about the first thing we learnt at Business School and probably the most valuable.

There is one exception; Governments sometimes give out free lunches and should be gratefully received. Although even then it is not a free lunch as some sucker down the road is going to pay for it.