Once you take money, the clock starts ticking
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Re: Once you take money, the clock starts ticking
#2It would be great to know which companies were on to something but simply ran out of money. Someone else could take the same idea and try it with a smaller budget and be more focused from the start.
Re: Once you take money, the clock starts ticking
#3It would be great to know which companies were on to something but simply ran out of money. Someone else could take the same idea and try it with a smaller budget and be more focused from the start.
Doubt it would work out that way most of the time. You wouldn't have the same experience/knowledge/insight.
The same people could probably re-do a company smarter though. Foursquare is Dodgeball 2.0. Twitter is sort of Blogger evolved.
Re: Once you take money, the clock starts ticking
#4Isn't the clock ticking, whether you take money or not? I don't know many people who can continue working on an idea without seeing progress of some type. You can get demoralized and quit if it's status quo for a long time.
Re: Once you take money, the clock starts ticking
#5Isn't the clock ticking, whether you take money or not? I don't know many people who can continue working on an idea without seeing progress of some type. You can get demoralized and quit if it's status quo for a long time.
Sort of, but not nearly as much as after taking pro or semi-pro money.
Re: Once you take money, the clock starts ticking
#6Isn't the clock ticking, whether you take money or not? I don't know many people who can continue working on an idea without seeing progress of some type. You can get demoralized and quit if it's status quo for a long time.
Yes but then it's on your terms and schedule, not somebody else's.
Re: Once you take money, the clock starts ticking
#7It would be great to know which companies were on to something but simply ran out of money. Someone else could take the same idea and try it with a smaller budget and be more focused from the start.
Doubt it would work out that way most of the time. You wouldn't have the same experience/knowledge/insight. The same people could probably re-do a company smarter though. Foursquare is Dodgeball 2.0. Twitter is sort of Blogger evolved.
> Twitter is sort of Blogger evolved
I think you nailed it.
Re: Once you take money, the clock starts ticking
#8Isn't the clock ticking, whether you take money or not? I don't know many people who can continue working on an idea without seeing progress of some type. You can get demoralized and quit if it's status quo for a long time.
Yes but then it's on your terms and schedule, not somebody else's.
If you have any pride in your work then there's always a clock. Whether it measures money, time, progress, or self-worth. The clock is always ticking.
For people who don't care about the outcome. The clock doesn't exist.
Re: Once you take money, the clock starts ticking
#9Isn't the clock ticking, whether you take money or not? I don't know many people who can continue working on an idea without seeing progress of some type. You can get demoralized and quit if it's status quo for a long time.
There's progress and there's progress. If I 10x AR's revenue this year that is pretty motivational for me. If I had taken money last year, though, aiming for "just" 10x would set me up for a very unpleasant series of conversations when the money ran out.
A subtext of this discussion is that taking money means that some outcomes which are wins for the entrepreneur but losses for the moneymen become untenable. (Outcomes which are wins for the moneymen and losses for the entrepreneur, on the other hand...)
Re: Once you take money, the clock starts ticking
#10Isn't the clock ticking, whether you take money or not? I don't know many people who can continue working on an idea without seeing progress of some type. You can get demoralized and quit if it's status quo for a long time.
It's a bad analogy. Once you take investor funding, the die is cast. You can pivot (to some extent, now that investors have learnt what that means), but you can't change the scope of your company. Will it be a lifestyle business, a niche player, or the next big thing?