Sunday, June 13, 2004

Back to the business

Over the past few years (from about the third quarter of 2000 onwards), I have been going to meetings with cash-strapped start-up companies with me-too products looking for PR to work sales objectives and marketing communications programmes for the price of a McDonalds Happy Meal.

On Thursday evening, I went to a more refreshing meeting for a potential new start-up (any more than that I cannot tell you because I have signed an non-disclosure agreement). The operation was obviously boot-strapped together, however the first added ingredients I noticed was that there was a real sense of enthusiasm and excitement about the project. This is in stark contrast to the meetings that I have with many start-up companies who are desparate to avoid the VC 'dead zone' of low growth or even an incurable burn rate.

After I had got over the enthusiasm, I noticed that they had managed to assemble a strong talented team; something sorely missing in many of the other meetings that I had been to as talent seemed to have migrated to safer larger firms or had left the rat race to have a better quality of life.

Finally, I noticed enthusiastic funders, both from financial institutions and private individuals, and no I don't mean enthusiasm in the rapid type way; but people buying into a compelling offering. It was obvious from the discussion and questions asked that they had thought a lot about the project. Something that is missing from the UK funding scene at the best of times

I left the meeting thinking thank fc:uk for that!