investment, investorsI am in the position of discussing potential investment with a group of people, who just so happen to be my current full time employers. Discussions have went well so far, but I have heard nothing from them for the past couple of weeks. I don’t want to push the issue with them, in case of scaring them off a bit, but I would also like to know the lay of the land at present.
They know that if they invest, they will be losing me as an employee of this current business and we currently don’t have anyone in a position to take over, I suspect this might be a factor in the delay in hearing anything. But similarly I want to make a go of this business, with or without their help. (Preferably with).
I have a 3 month notice period in my contract, would it be worthwhile handing in my notice, and therefore be free to work on MY business come February regardless of whether they are involved? I just have a feeling they’ll string me along to January, then advise that they won’t be investing. Leaving me still having to do my 3 month notice until April/May.
How should I approach it? Bear in mind I don’t want to push it too much in case I annoy them and it makes any work difficult.
First work on your startup until you’re overwhelmed and can’t work at your current job anymore. Then quit. No need to quit and then if the startup doesn’t work out you’re left with nothing. Entrepreneurship without income is suicide.
You should speak to them. You should push them.
Interesting Fact with SPINOFFS: If you want to know if a spinoff IPO will be a success, always look at what the parent company’s shareholders and executives have invested in the spinoff. That means that the board, shareholders, executives, etc., all believe in the spinoff in they are invested in it. If they’re not, then just want to get rid of a burden. This is true almost 100% of the time for spinoffs within 3 years of going IPO. ALWAYS look at the shareholders of the new spinoff.
With that said, if they believe in it, they probably don’t care if you’re making them money in this current business or the next. They just want to make more money and invest in companies they believe in.
I don’t know in what position you’re in (maybe you’re an executive and you’re extremely needed) but if they were initially interested chances are they will be interested now as well.
If you don’t speak to them, then maybe they think you’re not motivated anymore. Maybe they’re waiting you out to see if you really do want to push this.
This is a bit of a psychological question, but either way I’d push for it. I’d want to see someone motivated.
Lastly, when you do get an answer, you can move on and make a decision instead of waiting on someone else’s decision.
Best of luck! Hope it works out.
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