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.

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  • http://www.facebook.com/davidbilas David Christopher Bilas

    Good luck! I admire your tenacity and endless creativity. You’ve always had those qualities for as long as I’ve known you.

  • mysteryman

    Hey Arshad,

    I think you’re selling yourself short here. Love the concept and the platform is seamless, what I think you’re missing is the value aspect. It screams -> jobloft or kijiji to me. I think if you look at the way eHarmony works they have serious candidates seeking serious candidates. The idea of a free membership allows for spam and bad candidates, but if you can put a guarantee behind it, the candidate is willing to pay and so is the employer. If you do these opening months as a free promo I think you will be quite successful. You have the what and the how, your job is to convince people on the why and you’re selling a big why so don’t give them what they want give them what he NEED at a price that no one can match. Amortized payments are “the now.”