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May 13, 2005

Diary of a Start-up

Diary of a Startup - On Angel's Wings

Posted by at 2:13 PM

This is the culmination of another insane week. At the end of last week, we had sent a counter offer to our angel investor based on his initial offer. We heard back from his attorney who told us they had accepted almost all of our terms in our counter offer and they were ready to move forward quuckly. So, we cleaned up a few details and our angel investor and I signed a final term sheet.

Obviously, I have been thrilled with this development, but the money still isn't actually in the bank account, so I am going postpone the celebration until that time. The best thing about this angel was that he was not only willing to put in capital, but he also committed to work with our company full-time and help me run the company. There has always been a lack of management talent at our company (frankly we could not afford high level managers so we hired people based on potential), so this is a huge boost to our overall infrastructure.

We spent the rest of the week trying to merge our accounting systems, introduce our new investor to our existing clients, and build out strategic game plans with the "new" company. Our lawyers are working on the final documents and we are supposed to have them in our hands by Monday. Our angel is prepared to transfer the money early nexy week. For the time being, we will continue to press ahead with the plans to grow this business and wait until the official money transfer to begin our "execution" stage.

By next week we should have our money and a more definitive strategic direction.

Diary of a Startup is a weekly blog written by Pete Kadens, founder of Acquirent, an outsourced sales execution company based in Chicago. Click here to read last week's column.

2 Comments

Posted by: Kristine at May 17, 2005 9:57 AM

Hello,

I am from Backbone Media, an Internet marketing company based in the Greater Boston area. While searching the web for bloggers who work for companies and blog about their company’s products and services, I found your blog.

Blogging is all about starting online conversations about a particular topic. Backbone Media is attempting to understand the value of blogging for companies, to build a model of what makes a good business related blog. We asked ourselves the following questions to start that conversation about corporate blogging:

· What is the value of corporate blogs?
· Who blogs in a company?
· What can it bring to the company?
· What makes a corporate blog successful?

To find answers to these questions, we are reaching out to bloggers at companies by conducting a survey for corporate bloggers. We were inspired in part by the corporate blogging survey conducted last year on the The NewPR Wiki week.

We want to get your feedback on corporate blogging, and after the survey closes, we will understand more about corporate blogging and we will publish and send you the complete results.

If you’d like to remain anonymous, it is not necessary to fill out the contact information. However, if you would still like to receive the results of the survey, please email us at bloggingsurvey@backbonemedia.com and let us know. Since you will have filled the survey out anonymously, we will not associate your contact information or company with your survey responses.

We’d really appreciate the bloggers taking our survey. It can be filled out here:
http://www.backbonemedia.com/blogsurvey/

You can contact me directly at kristine@backbonemedia.com or contact our blogging survey team at bloggingsurvey@backbonemedia.com

Thanks!
Kristine

Posted by: outsourced sales at February 16, 2006 9:38 AM

I think everybody use blogs for business or leisure, so your survey would be interesting
Charles

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