Continued from Environmental factors (Bloozle – the Startup that never was - Part V)
We are confident that we will get customers and we will be able to multiply our customer base fast once we cross the incubation stage. But reaching that stage needs massive amount of research and development effort. And that cannot be sustained by us on our personal savings – and definitely not without quitting our corporate careers.
And to do all this we need Seed Funding – it’s a vicious circle which probably every entrepreneur faces. Most entrepreneurs overcome this phase by sheer determination of cutting through the hardship – even borrowing money to run their dreams. We would probably have done the same – if this was a smaller venture which could be incubated on less money, but we don’t think it is like that. And so the wait is on – for the VC who would help in Seed Funding and kick starting.
And to do all this we need Seed Funding – it’s a vicious circle which probably every entrepreneur faces. Most entrepreneurs overcome this phase by sheer determination of cutting through the hardship – even borrowing money to run their dreams. We would probably have done the same – if this was a smaller venture which could be incubated on less money, but we don’t think it is like that. And so the wait is on – for the VC who would help in Seed Funding and kick starting.
Till then – we reminisce on the mistakes we committed and try to learn from them. May be for this venture, but if not then for another one, whenever it comes!
Concluded.
Index of all posts in the series: Bloozle – the Startup that never was
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