How to handle sticky situations; An Entrepreneurs story.

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Photo Credit; ISEMI

 

AN ENTREPRENEURS STORY

A while back, I got the opportunity to pitch my business to a panel of angel investors. I was given 15 minutes to pitch and take questions ; I remember being super nervous. I started off pretty shaky but soon became calm and somewhat coordinated.

Once the pitch ended, the investors BOMBARDED me with questions,everyone on a panel of more than 10 had a question. Even when my session ended, they continued arguing about my business concept.

I was very hopeful about the presentation so when I did not get investment i requested for a post presentation feedback, i wanted to know why they dint think the business was worthy of their investment.
Here’s an excerpt from the email I received

“After a very extensive debrief following your presentation with the Angels, we regret to inform you that we won’t pursue further the next stage. Your business idea and passion for what you are doing, we believe will make you succeed in addition to your years of experience make you an amazing profile, and rendering this decision is extremely difficult.
Nonetheless, we believe that your presentation was not sufficient to ensure you would be put in conditions to proceed further.
We advise that you stay as you are and continue to grow, we believe this is a good business and for now you are better on your own.”

As soon as i read this mail, I began to replay the presentation in my head. I put down as many questions as i could remember from the presentation and began to answer them again. Soon i realized the business had good elements that was yet to come together. I had not yet identified a way to operate sustainably on a commercial scale.

My business (as with most startups) was still in a messy state with lots of risk and this would have been a sticky situation for investors to come into .

Once this became clear to me, i was encouraged to sort things out and make it happen.
Every startup goes through sticky situations, actually, successful startups emerge from sticky situations. What’s most important is working through these situations to build value into the business and grow it. We must never let sticky situations get in the way of bringing our dreams to life. Its a part of the entrepreneurial process ; embrace it joyfully, assess it and come out flying .

Your sticky situations are stepping stones to greatness…
Written by;
F.O ( The Entrepreneur )

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