Are you standing on the edge of the cliff with your business?
Are you standing on the edge of the cliff with your business?
By David Fuller
Contributor, Troy Media
It’s time to take the plunge: to take a good idea and turn it into a profitable venture, you need to take a risk
Christopher O’Byrne stood on the edge of the cliff, looked down, considered jumping and then stepped back. He repeated the process over and over. He would walk away and then back. His mind told him to jump but his body just wouldn’t do it. Christopher knew he couldn’t take the internal dialogue any more, or the taunts from the onlookers – his time was running out. He had prepared everything and yet he was hesitating. What was going on?
I recently met with a couple of entrepreneurs who are standing on their own cliff. They have a business that has been running for over a decade and would be considered marginally profitable. They want to take it to the next level. They know that if they want to get investors they need more revenue, more customers and new streams of income.
As we all know, investors want to see that they’re going to be able to get their money back and then some. Without proven products or service revenue streams, ventures are simply too risky for all but a select few, who then demand most of the company in return for capital.
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