Really Dumb CEO

March 14, 2007 at 6:18 pm Leave a comment

One of the companies I am working with is an enterprise software play. These guys are still very much in the embryonic stages, having been funded solely by the wallet (and credit cards) of the founder. I serve as an advisor to the company, and the other day, I stopped by his office to get an update on things and see how I could help them get to the next level.

It is important to point out that this company is pre-prototype still (and obviously pre-revenue). They are very cash strapped and are seeking to raise an outside round of capital. The CEO also doesn’t yet have a track record in building new companies – this is his first – although he does have a great amount of industry street credibility.

The CEO informed me that they had a quote from a firm in India for $20K to build a Flash marketing demo. This demo would give potential investors an overview of how the product will work, and how companies can best utilize it. Ideally, the presentation would be shown during investor pitches, embedded within the Powerpoint slides.

I then asked the CEO how much capital it would take to actually get the prototype out the door. The answer? About $30K and about three months worth of work (also using an offshore team).

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Entry filed under: Internet Startup.

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About Biz News

My Name is Bisi and this is my blog This blog features stories that I have read that I think are interesting . I usually bookmark the stories that I find interesting but they are getting too many . I have decided to catalog and share them on this site . I am not really promoting the site so you might have accidentally stumbled on it . Thanks for visiting .
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