I’m sure there are great entrepreneurs who are good at three or four things in their lives, but in my experience, entrepreneurs tend to be very focused, especially on their businesses. Unfortunately, this means that most entrepreneurs are terrible money managers for themselves. I think they get so tied up in running their businesses on a day-to-day basis that they don’t think about their future financial picture.
One constraint is simply their available time. They just don’t have enough time, especially if they have families. Financial planning and management tends to be a long-term consideration, and most entrepreneurs are just surviving, so they intelligently put their time where it should be — keeping their businesses alive and profitable.
