Why not consider a back up plan in case the funding source you are counting on does not materialize? After all, being a partner in your project is better than failure, which often has personal repercussions beyond the business losses.
The CEO was certain that the next round of funding was just around the corner and he wanted nothing to do with the alternative I had suggested.
My suggestion? A Strategic partner would help gain market share and / or build a more efficient manufacturing capability and allow him to concentrate on what he did best (and quit spending most of his time raising money). I followed up diligently to no avail.
The banker that had referred him to me a year ago, called last week to tell me the firm was being liquidated.
Another great technology, great product, and good business model imploding because the founder would not take the finance blinders off to look at other approaches to survival.
It hurts me to see the lost money, energy, jobs, technology, and all the years of creativity and building that went into this firm.
Perhaps my approach is too soft.
I tell people that if they “just wait to say no” and look at alternatives in case their own plan doesn’t work. Then there will be a choice available as a resort to failure.
This does not work in most cases. I get more liquidation calls than I care to take.
Your stories and suggestions for improving my approach would be appreciated.