It’s so easy to get comfortable in business. Each year that passes boosts confidence adds to your feeling of comfort. I am reminded of the comfort of being established as we are about to launch an entirely new business. It’s a scary time considering budgets and risk and how much of the years of success one must put on the line to give the start-up life. But what’s life if you don’t take the risk? In this case, the risk is huge as the start-up in a very competitive space which is dominated by huge corporations. That is a motivator in itself. It forces us to offer a better product with greater flexibility and with the ability of connecting in such a way as to enable it to be promoted virally.
Common sense tells me to leave start-ups to others going into business for the first time. My heart says take the risk, compete with the big corporations – this is what you’re in business for – the ride! Our investment is substantial. While we have considered financial partners we have not pursued this because those we talked with early on asked more about their exit opportunities than the business itself. Like any start-up, this will need nurture for some time and it was too premature to even contemplate exit.
The balance of investing in the start-up while growing the core business is trisky. We’re coping and the drain on cash and resources is considerable. Again, one has to weigh up the risk and benefits.
So, we’re riding. We’re late to market but the offering improves with every day. The two years of work will start to surface in a consumer sense in the next few months and a month or so after that we will know if we have wasted our time and money or not.
What’s the point of this post? By talking about this start-up, even in oblique terms, makes it more real and that of itself is a motivator. You know so we have to see this through.