This post will be related to my personal life and relationship within my circles, in relation to a Techpreneur/Entrepreneur startup dreams/ideas. I don’t know about you but I see relationship and Entrepreneurship go hand in hand the only way the both parties (Founder and Co founder) know if the affection they have for each other will last or crash is just by RUNNING (DOING), hanging in the air, not trying to run just makes their ideas (The affection the both partners have) just be an idea (Not defined, Guesses, Hypothesis) that has not been tested. It also involves both partners taking risk/sacrifices both short and long term to see/simulate what they will have for each other will or might during the startup stage to early stage company then to a full fledge company (Marriage). For example in a situation where two young adults within the same age group who feel they have affection for each other or one of them have affection for the other, it takes sacrifice both parties to know if what they have for each other will work, either by running as friends or going more deeper into relationships, but it takes an even more bigger risk by the members in a situation where one of them is about to finish a higher education and the other is just starting or just behind some years back to be patience or take sacrifices to see the vision and affection (Ideas) of the other partner, Not just seeing it but believing in it for the both to work hand in hand, if either one of the partner is not willing to take that risk/sacrifice the affection or ideas may not be tested, created then managed and a long lasting institution (Company) cannot be formed. What do you think???
We have been pitching for investment for 3 weeks now and so far, despite floating in shark infested waters, we are yet to be savaged and if you pardon the pun, things are going swimmingly.
Yes indeed we have been in to pitch a variety of investors - some were terrifying, some were friendly, some were impatient, others have been exceedingly helpful and offered consistent advice throughout our journey. One very important distinction investors like to make before weighing in with their comments, regardless of what they are; is their general interest as an investor.
Michael Rahamim, former Kookai boss and Chairman of Phase Eight has been kind enough to spend a great deal of time with us explaining what investors will look for, what we should drop from our pitches and most importantly, to always focus on the bottom line. As an ex coffee tycoon, and now fashion boss, he’s been around the world and experienced a lot of variety - but his message is simple - be clear about when we make money, how we make it, and how we make more of it. This is fair enough.
David Blumenstein, former CTO of Media Giant Euro RSCG and Ogilvy in America was kind enough to spend a solid 2 hours on the phone with us helping us perfect our presentation prior to a Google Campus demo, and actually commended us on putting in the ‘numbers’ - a benefit of having PwC’s brightest star leave to startup Grabble.
Garry Hogarth, CEO of Agent Provocateur has been particularly enthusiastic with our proposition as a means of generating new audiences for his product but was incredibly honest that anything online is, quite simply, someone else’s job. His message was quite clear however - we don’t need to prove that we can make money for his brand, we need to prove that we are a valuable new customer acquisition tool.
The advice comes thick and fast, and sometimes not at all. Being granted 15 minutes at EC1 Capital was a unique experience - not offered the opportunity to go through our proposition we simply had to answer why we “weren’t Pinterest” and “what do we do that x doesn’t” (despite answering these questions throughout our presentation. The investor in that meeting therefore left with only a clear understanding of what we do that’s better than our competitors - but he probably doesn’t have a clue what we actually do, because he never asked.
This week we have some more exciting meetings having covered off the older generation of lions and crocodiles, we now have a series of meetings lined up specifically with young investors - the lion cubs and tiger sharks if you will. We have had offers for the full amount required coming in left, right and centre which is fantastic news, but what we are really looking for is the right kind of creature to join our zoo.
Somewhere between a wise old owl, a fire breathing dragon and a young and intelligent friendly dolphin would suit us fine. Having met our fair share of the lion’s and crocs and surviving to tell the tale, we are excited to meet these young successful “techpreneur” types. Something tells us they might actually have more bite than we’re expecting.