Monday, June 12, 2006
Still Waiting
Today I spoke with my potential investors. It's been just over two weeks since I presented them with my business plan and discussed start-up capital. Since that meeting I have sent a half a dozen emails, a couple text messages and a few phone calls to keep in touch. I am trying to be engaged without seeming overly anxious. A plan that seems to be failing with each day that passes. I know that deals for seed funding don't necessarily happen overnight but the anticipation is eating at me. I really don't know what the extent of their investment will look like until I see a term sheet or get a phone call. Today they said that they would have an answer for me by Thursday. A very long 3 day wait. That is if they are able to discuss details and come to a decision within the next 3 days. I feel like I need to get going. With each day that passes I feel like a potential competitor gains one more day to catch up... soon enough I'll be behind. First mover advantage only goes to one player in the marketplace. So for now I wait. Brainstorming has reached a lull. Ideas are counteracted by what ifs and Plan Bs. I want to jump in, and drive the company forward but over the past couple days I have been consumed with preparing for what may or may not happen. At this point I am probably better off assuming that the company will move forward. With that outlook I can focus on competitive advantages and once again approach the biz with the passion that guided me through the concept. So its back to the think tank.
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