You are definitely a startup.
You have probably incubated.
You’ve also probably been through an accelerator.
So are you making money yet?
Time to get yourself out of this crazy cycle you find yourself in and starting running a BUSINESS!
That generally means a profit motive, and if you are currently working with investors or plan to, you need to start showing it.
I’ve seen good ideas come out of Boston accelerators. Really good ideas! I’ve personally been a mentor at the biggest one in Boston. Just yesterday, one of the largest winners in that accelerator, three years ago, touched base with me. I asked her how is your revenue model doing? The response? “Oh we are getting ready to join another accelerator.” I was like……WHAT?
Last month I saw an investor I know in a CIC conference room. Truth is most of you probably pitched to him in the past. I stuck my head in. “Would three startups with solid revenue streams be of interest to you?” He smile back facetiously, “What a startup that knows it’s about making money? That’s a novel idea.”
You all have got to stop this rat race.
There is another way. Work with a team and peers, eager to grow their business. Collaborators, if you need a term. People who know how to introduce products. People who keep you motivated. People who keep you grounded and focused. People who work with a budget and operations plan, not a “deck”. NOT, people chasing investor money, perfecting pitches for a million times, or those getting ready for another “round” with absolutely no revenue.
You all need to get out of this maze!
Crazy how many of you haven’t made it yet. You believe in your product, concept or idea? Then you need to sit down with me. It’s time to make it happen. Seriously, you think?
Michael Lemke, Founder
Solutions For, Inc.