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The Hidden Costs
Of Other People’s
     Money
“If we had had money, we would
 have made more mistakes. This
way, I wrote all my checks. I knew
  where the money was going”




                      Tom Davis
          (Modular Instruments)
Problems with raising too much
           money
Symplex Communications

                                XYZ



Y       X
    Z         George Brostoff
Diminishing Flexibility
Gammalinks

                 PC          Buyers never
             Communicator    materialized     24

High Speed
 Modem         Dialog        Didn’t get off
                                              1
              5000 Mailers   25 responses
               for $1 each       only




                              $7,00,000
Was the original
concept wrong or
  was it poorly
   executed?




                    Are we befooled
                         twice?
• COMPANY: Serrato Drywall Inc.
  BUSINESS: Drywall construction
  FOUNDED: 1994
  START-UP CAPITAL: $400
  1999 REVENUES: $1.5 million
  2000 PROJECTED REVENUES: $1.8 million
• http://www.inc.com/magazine/20000701/195
  36.html
• COMPANY: DocMan Technologies
  BUSINESS: Electronic document-management
  services
  FOUNDED: 1994
  START-UP CAPITAL: $500
  1999 REVENUES: $1.5 million
  2000 PROJECTED REVENUES: $2.2 million
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  • 1. The Hidden Costs Of Other People’s Money
  • 2. “If we had had money, we would have made more mistakes. This way, I wrote all my checks. I knew where the money was going” Tom Davis (Modular Instruments)
  • 3. Problems with raising too much money
  • 4. Symplex Communications XYZ Y X Z George Brostoff
  • 6. Gammalinks PC Buyers never Communicator materialized 24 High Speed Modem Dialog Didn’t get off 1 5000 Mailers 25 responses for $1 each only $7,00,000
  • 7. Was the original concept wrong or was it poorly executed? Are we befooled twice?
  • 8. • COMPANY: Serrato Drywall Inc. BUSINESS: Drywall construction FOUNDED: 1994 START-UP CAPITAL: $400 1999 REVENUES: $1.5 million 2000 PROJECTED REVENUES: $1.8 million • http://www.inc.com/magazine/20000701/195 36.html
  • 9. • COMPANY: DocMan Technologies BUSINESS: Electronic document-management services FOUNDED: 1994 START-UP CAPITAL: $500 1999 REVENUES: $1.5 million 2000 PROJECTED REVENUES: $2.2 million