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March 31, 2011 / Brandon Giam

Emotions #2 & Journal #7 : You haven’t raised the money until its in the bank.

Got news from a family investor that he is pulling out from the investment due to other commitments. How am I suppose to feel?. I guess disappointment is a suitable word ; Disappointment with myself. Here is why I am ever learning on being an entrepreneur.

  1. Never be too happy about your achievements. I have to be honest, I was very pleased about initially getting the investor interested. But until the money is in your account, NEVER be too pleased about ANYTHING.
  2. Investment is all based on gut. At that very moment when I was pitching my ideas to him, I could feel that he was excited and ‘convinced’ to invest. In my opinion the ‘high’ of the idea died off and at the same time I wasn’t persistent enough in him taking actions on his words.
  3. As far as possible try NOT to get any money from family. I knew this, but I still took the chance. I thought it will be different this time, but when it comes to money, nothing is the same. This comes to the second point, why it is difficult for me to push the call to action?. Because he is family and I didn’t want to be annoying in constantly asking for the money. It is better to raise money from someone who understands the push and follow ups.

Another challenge as an entrepreneur? Definitely ‘yes’. I somewhat had this ‘no way it could be this easy’ feeling when he agreed to invest. Hence I said, I was pleased, not happy. So what now? Back to basics, back to one. Pitch, pitch and pitch.

Go for the beers after the money is in your account. Till that happens. Money raised = 0

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