We closed our last venture, ClearGears, with $100k in the bank and a very low burn rate. We could have closed the company and returned the remaining money to investors. I decided to keep the team together because we have something too valuable to pause or disrupt, even for a minute. Over the past 18 months we’ve learned to measure demand and then execute really fast. We’re now going to put our skills to the test. We’ve got $100k and 100 days to invent a new business.
There’s a lot at stake. If we fail, it means two of my overseas developers may not be able to move to the US. They have kids and wives banking on them and, by extension, our company and of course on me. Our US employees need to make rent and have health insurance. My investors, who are also my friends and family, would lose lots of money.
Two steps at a time. We’re starting with Interview Jet as our first effort. Interview Jet only works if we can get a steady flow of good candidates to place. Without candidates the business fails, so if we can’t sort that out, then we move on to the next project. We’ve already started building the next project, just in case.
We’ll document the trip. You can follow our wins and losses here and on Twitter @interviewjet. Our progress is also visible on the Interview Jet website. Three weeks ago we had no website, two weeks ago we had one, and this week we’ll have one with over a dozen company clients proudly displayed on the front.
Wish us luck.