An entrepreneur may face equally intense financial challenges many times. Give one example related to this statement.

King C. Gillette invented the disposable razor and started the Gillette Company. In 1901, Gillette company was $ 12,500 in debt. Gillette managed to secure financing from a Boston Millionaire and saved his company. Thus Finance is one of the most important pre-requisites to establish an enterprise. Availability of finance facilities the entrepreneur to bring together men, material, machines and methods to produce goods/services. 

As timely availability of funds in right volume is key to entrepreneurial success, the entrepreneur should develop a sound financial plan.