Saturday, November 27, 2004

Entrepreneur Diary #3

I promise to live my entrepreneurial life in solidarity with the Jews.

The day before my elbow surgery, Wayne called to say he was considering job offers from a school and others. This would be fine, except that the day before that we were approved for our $250K SBA loan. Needless to say the lack of his collateral killed that deal. It will be a little harder getting the marketing and engineering done, but it won't be impossible. Not like staying alive.

I woke up this morning with a dream of the loan officer. He is simply a half wit, but my mental state cast him in the role of antagonist. I promise to work hard and skip the dreams.

Great show on INHD about a blind person climbing Mt Everest. If he can do that, I can bring a great idea to market.

One last thing: so i'm laying there not wanting to get up. I have this recurring vignette pop in my head about how little money some people start with to end up with a fortune. I'm already mad about losing the $250K loan and the loan officer; I suppose I'm still vain and trying to make myself seem even smarter since I'm going to be successful WITHOUT the $250K.

But then it occurs to me: those stories about becoming successful with $10 ten dollars (I think the last one i heard was on C-SPAN about Franklin,) are all BS. They should record for history that they became successul with a $1 Billion idea in their head. With that kind of idea it hardly matters what money you have.

The physics of entrepreneurship demand that money flows to value. Maybe you have value in assets like Carnegie, or maybe you have value like me. There's an E=mc^2 of entrepreneurship too. But it's P=ci^2. Profit is produced by the application of capital and the squared value of the idea that drives the business.

Has the fourth interesting meeting with a reseller prospect in a week today. But I underestimated his power and interest, but finally figured it out. He said some important things: Resellers are opportunists; They want - like end users - to find someone else to be responsible. We should craft the FE message to appeal to those motivations.