Sunday, March 04, 2007

It's All About Execution

Status update:

Making great progress towards launching a new business. There have been multiple iterations of initial ideas - I don't put much weight on the idea phase. It's all about execution.

Initial idea was tech heavy and relied upon multiple partners in the US to execute. When time came to commit my US partners lost enthusiasm for an African venture.

At that point I decided to keep it simple. My background is in technology/telecom but I am working with my wife (she loves to shop and has a pretty good eye for fashion) on prototypes for a new line of women's clothing for an online retail play. We're bringing a unique perspective. I'll let you know when we launch in June. The important things to consider are the low startup costs, low barriers to entry, and modest upside.

Also just began working with a high school buddy, who has a Business and Oil & Gas background, on a more complex but very promising business idea. To launch we will have to bring on institutional investors. We spent the weekend discussing our founders agreement.

I know its not ideal working on multiple initiatives but I'm taking a portfolio approach for now. I also definitely feel more comfortable with these two initiatives because I'm working with partners in both cases where we have a long history.

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