Entrepreneurship isn't easy!

I've started 4 companies since I took the plunge into entrepreneur-ism in 1995. Two of them my team and I took public on the NASDAQ and two of them I shut down within a year and lost a ton of my own money. Fortunately, I never lost my investor's money, in one case because I wrote them all a check for their investments since I felt like I failed them way too quickly. One of the companies we actually took public was really a failed IPO because we went public on the NASDAQ exchange but the underwriter never funded the offering. This nightmare resulted in a near bankruptcy, a voluntary reorganization (a blood bath), and a re-incarnation literally rising from the ashes of what I thought was certain death. In fact, that bloodbath was in the company I'm running today, Chexar Networks, and is the best company with the best team so far in my career.

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The Entrepreneur's Goal Post

It really is a cycle and a roller coaster that comes in stages for an entrepreneur and we all bust our butts trying to achieve what we call "traction" and "the tipping point". Honestly, the fun part for me is after you get traction and then ultimately when you hit the tipping point when you are "hot" in the market and things are just hitting solid on all fronts. At Chexar we just passed our 10 year anniversary and we are just now there. Most people truly underestimate how frustrating and down right hard it is to get to this point. It's like trying to get a locomotive rolling from a dead stop, in some cases, like with Chexar, with other forces pushing in the other direction and throwing boulders on the track in front of you!

Chexar Networks, Inc.

The process requires that you find the right idea, garner the capital, assemble the right team, design and build the right product on the right technology, prove it works, gain credibility, obtain visibility, secure paying customers, outplay larger entrenched competitors, navigate changing regulations, achieve financial cash flow, and ultimately secure a level of market share that matters. The middle of this we call traction and then somewhere along the way, if you are lucky, you hit the Tipping Point. AT this point the market, hopefully a large market, decides it needs a solution to a problem and that you are the leader. The point where everyone is calling you and you are having to say NO to deal after deal. The point where implementations take the lead seat and innovation is something that has to fight for company resources to stay ahead of obsolescence.

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Posted in Business Service Post Date 12/25/2021






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