Found+READ: Comments by matthew thomas

matthew thomas — Fri, 27 Apr 2007 23:08:14 GMT

It took me over two years to muster up the nads to take the leap into the entrepreneurial life. Dealing with the fear before and now has been the largest hurdle. And I see more coming.

Ahhhhhh, I am going for a bike ride!

matthew thomas — Tue, 01 May 2007 11:27:00 GMT

The one thing that pisses me off most about taking on a startup business is the fear. It can so quickly and easily consume you. The one aspect I struggle with daily is my inability to mentally focus on my family. Specifically, my son.

I have managed to keep time with him on a daily basis but I mentally feel like I am neglecting him. He is right there in front of me. Asking me to put on his other Superman cape and fly around the house. I do it, but have this nagging itinerary running through my head. What should I work on next? Make sure and call that credit card company! Don’t forget to apply the next scripting update.

It all comes down to my abilities in dealing with fear. Will it consume me today? Can I focus on this playtime with my son? I do not have the answer for that right now but know I cannot let the fear take over and replace the things I hold most dear.

Damn!
Did I do the right thing? That question is not valid anymore. It has changed to , will I do the right thing and keep my fears at bay while pressing forward.

Fighting evil with my 2 year old has never been so real.

matthew thomas — Wed, 16 May 2007 06:51:02 GMT

Fear of failure
Fear of Bankruptcy
Its all boils down to ones ability to deal and not dwell on the fear.

I had the pleasure to sit and watch a few minutes of a cheesy movie over the weekend where one character said to the other as they sipped a brew on the balcony of a plush pad:
“Life is a series of decisions you make and should never look back on”.

Cheesy movie but that statement stood out to me.

matthew thomas — Mon, 21 May 2007 18:56:39 GMT

My opinion is that you are asking a question you can only answer yourself.
Do you really believe in this idea? Can it be made into a business model that will provide for you and your family?
If yes, then asses your comfort levels with risk.
Could you and your family live without the steady income of your 9 to 5? Are your children healthy and covered by insurance from your spouses side? If you are single, then these questions don’t necessarily apply but you still have to examine your ability to live without something that has been a constant for so many years.

If it is possible to do, begin working on it gradually. Build the plan for your business as you solidify the product/service while maintaining your 9 to 5.
Trust me. Cutting out some free time to explore and trial your idea is better than altering your life to pursue an intangible vision.

matthew thomas — Thu, 07 Jun 2007 17:09:29 GMT

Vineet
Hmmmmmm? The most important lesson? For me, it has been finding the strength to deal with the fear. For others, you have to find your source and make sure it is there when you begin to lean on it. If things do not work out the way you expect, and trust me they won’t, you will need help keeping your focus. You can easily get sidetracked in dealing with financial upkeep.

In terms of the hangover, I could write up an entire piece on that alone.
Right now, I am still trying to come to terms with it myself.
In summation regarding the hangover, I went into business with someone I did not know. I should go into the details sometime but at this point there is still more that needs to take place.
I found someone that could share my vision. I became excited about that. I did not seek more advice before agreeing to partner. I gave up majority share. I provided most of the funding. I am now paying for it.
I suppose that is another Entrepreneur take away.

matthew thomas — Wed, 30 May 2007 22:46:57 GMT

I recall the first pay period I missed because I was not there anymore. I could look back and see the ledge. It was still in reach but I did not go for it because the decent/flight (both apply depending on situation) was such a rush.
Today, I would be a detriment to any employer if I went back. My ability to focus on their needs would not be sufficient to the position.
No turning back baby!!!

matthew thomas — Fri, 15 Jun 2007 20:12:08 GMT

1)
I feel that some time should be spent on market research, partnerships and such but agree that a solid product needs to move. I have spent 2 years casually researching the market and understanding technology for a product I am wasting no time in moving forward with. An opportunity exists. I am poised to make a leap.
2)
Hell Yeah!
Surround yourself with people smarter than you. Then delegate, measure the results and reward handsomely for success.
3)What do you think about finding a mentor? Someone who will listen to you bitch but more importantly act as the catcher. Outside observer. Just three days ago I asked someone to act in this regard but have not heard back. Suppose I scared them off?
4)Has everyone seen the movie What About Bob?
Baby steps. Bill Murray is great!

Supper post!

matthew thomas — Sat, 23 Jun 2007 04:49:42 GMT

An interesting article for me because I have a hard time understanding the Silicon Valley method of business development. Clearly from Matt’s bio he is a smart fellow and the valley is filled with similar minds all feeding from one another.
It is simply odd to me that one week spent coming up with an idea then leads to a 4 plus million investment on something that is not really existent or proven in a market.
Is this commonplace?
What is the most common method used by entrepreneurs to find funding for their ideas in the valley? Is there venture firms on every corner or do you have to hit the pavement stalking known investors and rub up against them at a local pub?
If and when I can afford it, I need to make a trip.

Congrats Mr. Brezina

matthew thomas — Tue, 03 Jul 2007 21:09:52 GMT

For me it is a culmination of fears.

Right now, I have a collection company on hold while I type. These folks are ruthless! I fear constantly dealing with them. Losing everything I own and not providing for my family because opportunities turn out to not be.
I fear forgetting why I take these risks. My dreams becoming distant and unreachable due to the piles of monotony accumulated from dealing with these idiots on hold.

I am in the pit of experiencing my first failure right now. 250k in debt and no concrete sign of how it will get taken care of.
Just myself and a new idea. Hell, this will sum it up.
I fear fearing all the damn time.

Back to the phone.

matthew thomas — Wed, 18 Jul 2007 21:51:42 GMT

I went the massive “credit draws/BP route” before and am now using the “no funding/build customer base one-by-one” method this article details to pay the debt from option 1.

I am now spending more time getting customers and making money than I was spending money and making what looks like a business.

Funny thing is, it took the cash plan to happen before I felt confident enough to aggressively attack with no-cash.
I am odd like that.