I received some incredible news last night from two portfolio company CEOs updating me on our Q3 numbers. They not only hit their respective forecasts set early in the year, but they beat them. Normally I expect our portfolio companies to hit their numbers, but I am ecstatic because we delivered in the midst of the largest financial crisis we have ever seen. While much news on the technology world is of doom and gloom, and while I too have been advising portfolio companies to conserve cash, it is nice to see that companies are still willing to spend if you deliver a strong value proposition. More importantly these numbers speak to the commitment of the respective teams to do anything possible to deliver on the Q3 forecasts. In each company, sales reps and executives flew out to key prospects and knocked off obstacle upon obstacle until they walked away with an order. Ok, it is not as dramatic as it sounds as there were numerous meetings and technology proof of concepts before getting a sale, but the point remains that the companies that delivered did not wait for the orders but went out and got them. There were a number of stories of sacrifices that were made including one sales rep who was expecting his third child yesterday but was at a prospect getting the contract inked and another one of a sales rep and sales engineer who camped out at a client's office all day and wouldn't leave until they had a signed contract. Extraordinary times require extraordinary measures, and I hope that stories like these inspire you to keep fighting the good fight and to go out and make things happen. Startups need to be scrappy and tough to survive!
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about
Ed Sim is founder of BOLDstart Ventures and co-founder of Dawntreader Ventures. Mr. Sim has over 15 years of venture capital experience having led seed and first round investments in a number of high profile Internet and software companies.
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- What entrepreneurs can learn from Jeff Spicoli Jan 25, 2012
- Never give up but move on quickly Oct 21, 2011
- Startups getting caught in No Man’s Land Sep 29, 2011
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- Reflecting on passed investments Apr 5, 2011
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Martin Wawrusch: Hi Ed, you might want to take a look at http://lea...
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Larry Tutino: Hi Ed, I do the same thing with real estate deals...
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DzNtz: well, for starters these executives can start actu...
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Peter Kadas, MD.: I'm an entrepreneur for 16 years now. I had wins a...
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Chris: Accountability is definitely an ingredient to grea...
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- Martin Wawrusch: Hi Ed, you might want to take a look at http://leanlaunchlab.com which is being built in...
- Larry Tutino: Hi Ed, I do the same thing with real estate deals I follow. I have my favorites/passed on file that I...
- DzNtz: well, for starters these executives can start actually LISTENING to the recommendations of the PROFESSIONALS...
- Peter Kadas, MD.: I’m an entrepreneur for 16 years now. I had wins and losses. To be able to quit is not just a...
- Chris: Accountability is definitely an ingredient to great management but one thing I have seen as essential when...









So did that employee miss the birth of his baby?
I’m not necessarily criticizing, just curious about what people are willing to give up during crunch time.