Starting Up Then Running Out of Cash
It’s cliché to say being an entrepreneur is hard. Duh!
I was fortunate enough to launch my company, WeMontage, after completing a tech accelerator in Wisconsin called gener8tor. And I was even luckier to raise investment capital, which gave me twelve months to try to get to product/market fit before having to raise an additional round of capital. But as we all know, things don’t always go as planned.
One year after launching the business, we built a great product and had lots of super happy customers, but we ran out of cash and were unable to secure additional financing, which I wrote about extensively here. Like any entrepreneur in this situation, I cut expenses, both for the business and personally, while I continued to look for repeatable, scalable paths to market.
The Decision To Stay At Home
The decision to stay at home from a practical standpoint was an easy one. Our nanny was going back to school and the timing of this was really a blessing in disguise because, as I said, we needed to cut expenses at home. The thought was I could stay home with the twins, while working on WeMontage between their naps and in the evening. Makes perfect sense, right? (more…)