Blowing it

I have a small group of Canucklehead entrepreneurs that I coach. They have a great idea (seriously) to launch a new service to do the last mile of ****** for homeowners. What it is exactly, I am not allowed to say, but there’s no doubt that an app would be an amazing boost.

But that’s not what I recommended. Nope. Here’s what I said instead:

Here’s the thing—Bill (not his real name) had the same idea.

If you guys were young Americans, I would agree.

We could probably raise $20 million in VC cash to begin with and over $100,000,000 in the next 3-years and blow this thing up right across North America, maybe the world. In Canada, though, we would probably spend a year raising a measly $50k, and the only thing we would blow is our brains out.

1. So, start SLOW. 

Print 5,000 cheap doorhangers, distribute them in neighborhoods where you think you’ve got a decent chance of capturing your first clients, build a $1,000 website and just START.

Worry about everything else later.

2. Prove the concept first.

I’m sorry to rain on everyone’s parade, but I know how to start new enterprises in Canada (and everywhere except the US and probably China)—by bootstrapping it.

COMPREHENDO EVERYONE?

Bruce

ps you know what my initials are right? BMF

Know what it stands for? Not “Bruce Murray Firestone”

It stands for: Blowing Money Fast so, from experience, I know the above works and what doesn’t having BMF’d a lot.

Bruce M Firestone, B Eng (civil), M Eng-Sci, PhD
Real Estate Investment and Business coach
ROYAL LePAGE Performance Realty broker
Ottawa Senators founder
1-613-762-8884
bruce@brucemfirestone.com
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