Producing in short. One quick metaphor

Don't have long to write today as I wait for the bell for my next class, but as I work on raising money for various projects, there is one thing that I'm seeing and if you decide to do this as a career, it's a really important lesson.

This is a roll of the dice.

I have had people say they'll put in 50k-100k for a project one day, and then call the next and say they're not investing at all.

I have had people sit down with me and I'm convinced they'll maybe put in 5k and they surprise me by going in for 25k.

Nothing is certain until people sign something and you have to just keep plugging away.

The question to ponder is:

Will you keep rolling the dice?

See you later.

I'm off to the craps tables ;)

Excelsior!

Comments

[Tom Atkins]

I always find it odd that people are more prepared to honour a deal where their signature is on a piece of paper, rather than a warm handshake following an agreement. When did someone's word stop being important?

[Matthew Putman]

I agree that in a good working relationship a handshake should be the equivalent of a contract, but it is not always just a matter of trust. It is a matter of clarity. A pitch to an investor can be honest, but the details of the deal can look very different. I have worked with family and friends for years, and even though we love each other, we have contracts. The reason is not because we don't trust each other, but rather so that we don’t need to ever discuss intent again. It is in the letter of the agreement. It is not wrong for an investor to say he/she is in for 100K, and then back out, because if the deal was exactly as he understood, it is possible he would have been in for 100k. I don’t specify enough sometimes, and I am learning how important clarity is.

[NFL Jerseys]

The reason is not because we don't trust each other, but rather so that we don’t need to ever discuss intent again. It is in the letter of the agreement. It is not wrong for an investor to say he/she is in for 100K, and then back out, because if the deal was exactly as he understood, it is possible he would have been in for 100k. I don’t specify enough sometimes, and I am learning how important clarity is.