Robert Runte had occasion once to point out after the celebrated
financial losses of PineKone II:
(Robert Runte, XenoFile 1:6, early 1990)
- Never start or work on a convention without the
protection of incorporation as a non-profit society.
- Never try to pay off convention debts by holding an even
bigger convention to "make it back" the following year. If you lose
money, fold the con, or fund-raise until seed-money is at hand.
- Never borrow money from outsiders, or in amounts the
lenders can't afford to write off; if you don't have the cash to do
the con, don't do the con.
- Exercise stringent cost control. Cons grow and prosper by
buidling on their successive profits, not by mounting lavish
conventions on borrowed money and expected revenues. PineKone
wasn't the first con to learn these lessons the hard way, and
unfortunately, it probably won't be the last.