After a hard struggle during the first part of the year, the company has started moving into the black. Jim feels that he has a much better story to tell the bank and potential angel investors. He believes that he has the numbers to convince the angels and potentially the bank to back the business
Jim called the team for a meeting. He reviewed the sales numbers first. The team was excited. He said “We’ve made progress on lowering average customer acquisition cost, recovered the money from shipping, reduced the time between repurchases, and created a successful bundling strategy. The results are good.”
Jim continued “There’s good news and bad news. We’re profitable this month. The bad news is that we are not throwing out enough cash to support spending. I’m going to try the bank again for a line of credit, but I’m at my limit. It’s time to work with the bank or get that angel to invest.
Adam and Sharon hoped that their work would be rewarded. They both had contributed a substantial amount of time. They were both optimistic after the meeting.
Jim Decision — Approach Bank and Investors for funding, Choice Removed: Wait
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