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10 Years ago I had a business plan. I believed in it so much, that I took it to others and showed them, looking for affirmation that this plan was the right one to take to market.
The feedback was good. Actually, it was more than good. It was great.
The mentors and entrepreneurs that I showed the plan to liked it so much that they wanted to invest. I gave it a lot of thought as to what I needed to take the business forward and decided that a little investment would help get the business to the first stage of growth, so it would not be a bad idea.
I chose a passive investor, who acted as a mentor but didn't tell me what to do. To be honest, at times I wish he had.
The business model was strong. In fact, I am proving that today. What wasn't strong is my understanding of how to run a startup. My other business Insomnia Marketing and Communication had been successful from the get-go because the brand was built on my capabilities.
But with Marketing Eye, I was trying to do something different. I was attempting to change the business from being about me, to being a true brand that stood alone.
At first I failed. The first years business results were not as big as the first year in Insomnia. In fact, nothing like it. Yet I had more money, resources and people.
The mistakes I made were evident:
The feedback was good. Actually, it was more than good. It was great.
The mentors and entrepreneurs that I showed the plan to liked it so much that they wanted to invest. I gave it a lot of thought as to what I needed to take the business forward and decided that a little investment would help get the business to the first stage of growth, so it would not be a bad idea.
I chose a passive investor, who acted as a mentor but didn't tell me what to do. To be honest, at times I wish he had.
The business model was strong. In fact, I am proving that today. What wasn't strong is my understanding of how to run a startup. My other business Insomnia Marketing and Communication had been successful from the get-go because the brand was built on my capabilities.
But with Marketing Eye, I was trying to do something different. I was attempting to change the business from being about me, to being a true brand that stood alone.
At first I failed. The first years business results were not as big as the first year in Insomnia. In fact, nothing like it. Yet I had more money, resources and people.
The mistakes I made were evident: