Tuesday, January 19, 2010

Time to Starvation

Lately I've been thinking about what I should cover in my presentation for the Enterprize business conference.  I am speaking on the topic of implementation and as I was on the elliptical earlier this morning, I realized that one main factor why I've made it until today with PeerFX is due to having the time to starvation variable in my favor.

Time to Starvation: the time you have to build your business before a) your friends and family stop lending you money b) your parents kick you out of the house c) you go crazy from working on the project by yourself (time is well spent searching for an AWESOME co-founder) d) you personal financial situation is classified as "dire", at which point you have to go find a stable job with a steady income stream.

Yes - I just made that up.  In my opinion, this factor plays a HUGE part in whether the founders can pull through the initial period of building something tangible and finding funding.  I just attached a name to the variable that's all. 

I'm excited about this presentation and will post more details about my presentation topics soon.  So far here's what I have as the outline of my presentation:

Before you can think about implementing your business plan, what factors have to be in place?  There are factors such as Time to Starvation, Crazy Employees, Free Money, and Making Connections Count.

After you have all of this, how do you ensure that you execute well?  See what Florence has to share on building her business over the past 2 years and what has learned about execution.  It took 14 months until Beta, and 18 months before they started generating revenue.  Now the business has transacted over a million dollars with growing partnerships across Canada.  Find out why it took so long, and what it took to get there. 

Definitely looking forward to doing this!

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