Raising funds and incorporating ..

Hello Everyone,

During July had been my first experience directly communicating with investors to raise funds for my business, I had been having my friend Karim from Easy-up do it for me and we already got 6 investors interested but per the regulation of the Nilex I needed 25 to incorporate based on the model we had been working on.  But to accelerate things up, I had the chance to be in the position myself.

I consider the experience to be overall positive and I learned a lot from it. made a few mistakes; but normal for first timers I presume.

I did postpone launching the business web-site and start executing the business model till I get the funds I need – as I might need to optimize or even change the business model during negotiation , which put me in the position of doing “nothing” for the time I was mainly focused on raising the funds only.

Also role playing, looking at the situation from the investors’ point of view and asking myself the questions I’m expected to be asked during the meetings could have made a difference. Something I need to work on for upcoming opportunities. I don’t think I have a communication problem but during the meeting my mind is mainly filled with the details of the business model and I don’t have a ready- made answers to some questions to be asked, I just think it up and it might be rephrased better.

As a big fan of ReWork I completely believe in their point of view expressed in “Outside money is plan Z”. Yes, I wish I’d go forward with no outside money, but it’s just feels exhausting for a long time. ReWork state the following reasons on why to consider outside money your plan Z:

  • You give up control
  • “Cashing out” begins to trump building a quality business
  • Spending other people’s money is addictive
  • It’s usually a bad deal
  • Customers move down the totem pole
  • Raising money is incredibly distracting

I really believe in these points even stronger now, but that doesn’t mean that we don’t need plan Z sometimes.

What was your first experiences with raising funds? What tips would you advice a young entrepreneur to take into consideration while going through his first incorporation experience?

- Abdo

Leadership – Long Before We Know Ourselves!

I loved these words:

Long before we know ourselves,
Our paths are already set in stone.
Some may never figure out their purpose in life,
And some will.
There are a lot of us who are caught up in this hell we all live in,
Content with being blinded by rules and judgment.
We live in a world where it’s more okay to follow than to lead.
In this world being a leader is trouble for the system we are all accustomed to.
Being a leader in this day and age is being a threat.
Not many people stood up against the system we all call life,
But toward the end of our first ten years into the millennium we heard a voice.
A voice who was speaking to us from the underground for some time.
A voice who spoke of vulnerabilities and other human emotions and issues never before heard so vividly and honest.
This is the story of a young man who not only believed in himself,
But his dreams too.
This is the story of The Man On The Moon.

-KiD CuDi,

A new business card

Hey All,

This is just to break the silence for about a month on the blog by a short post, I just went with my amazing cousin Mahmoud and got couple of Twitter-like business cards for our start-up. We worked together since October, 2006 and I’m very happy seeing things moving for the best after years of hard-working.

These are temporary business-cards we created till we settle down with a final decision on the identity and go further with the online presence.  I’m considering blogging much more often and getting a bit personal. Hopefully, I’ll be starting that from now.

Have a good time all

- Abdo

Sharing Link: http://abdo.me/94fxaz