Jim went to the bank because cash was getting tight. Even with his improved numbers, the bank required collateral that the company didn’t have and that he didn’t want to provide personally. He’s got the bank numbers together and hopes that they are what Mike J. wants.
Jim called Mike J. He gets right to the point. “I’m not calling to check-in. I’m calling to tell you that we’ve increased sales to over $xx K per quarter. We’re now in the black due to successful efforts to reduce average customer acquisition costs, recoup shipping fees, increasing average ticket price, and improved word of mouth generated sales. I’m looking for investment to help us get through the next round of inventory production, and scale our profits and sales. Can we talk about immediate money?
Mike J. wanted to shift from tactics. “What would you say your strategy is?
Jim says, “We control customer acquisition cost and focus on yield. By controlling customer acquisition cost and focusing on consistently profitable follow-on sales we aim to yield profit every time the customer buys.”
Mike J. responded by saying, “It’s time for us to have a serious discussion about investment. I’ve got a couple of other people queued up to put some money into new ventures. I’ll set up a meeting in two weeks. Is that enough time for you to prepare an investor presentation?
Mike J.’s Decision (Learn more) choice removed: Don’t Invest
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