Every project needs to be evaluated at certain points in its life. The best way, according to theories, is to set a date of evaluation of project at the onset. The date we set in our minds was March 31st. Well, wouldn’t you know that date has come and passed and well, we have to decide if we follow on or stop right here.
Not to be dramatic, let’s evaluate quickly on a couple of fronts:
- Revenues: not where expected, probably miscalculated from the beginning, Should have been more realistic and careful about how we would project these out. Although we have been doing very well in our consulting projects, we have not been doing as well in our brokerage business. Our projects have taken more than expected to get off the ground and that puts pressure on cash flow.
- Expenses: again not where expected. Although they remain particularly low and honestly, we are a responsible team, they add up every month. Our expenses base is probably at 20% more than our revenues in cash terms. That means losses accumulate each month.
- Outlook: sunny with a slight chance for showers. Things are marching along. As mentioned before, a little later than expected but actually a little better than originally planned. I have not doubt of my capabilities as an entrepreneur and I say this humbly, but I made a great and my best decision when my partners came in looking for a job and I took a chance on them, without any revenues, 4-5 months ago.
Decision: well a couple of weeks ago I said I was doubling down like the gambler, and believe me that I am. I will re-evaluate the project in 60 days and see where the roads take us. I am not afraid of failure, just like I am not bothered by success. They are only emotions in different directions. It only means that the planning was good, the stars aligned, that was God’s plan and the circumstances were in our favor. It is nothing in the grand scheme of things. Only a positive result in the financial evaluation of a project. The real victory is walking away from a place where I was not happy anymore. A place where I did not feel it was good to be because we were going in different directions. A place that gave me a lot and that I poured my heart and soul into. That is the real triumph, to walk away from obscene amounts of money and be smiling because you are proud of your actions.
I see my kids EVERY morning that I am home and have breakfast with the little ones, and say goodbye to the older ones when they leave for school. I see my wife, EVERY day when I am home and enjoy the time spent with her at home and at work. I am happy and that is not a tragedy. That is the real measure of success of the project. The financial stuff is only a small piece of reality and a way to make a living, nothing more.
Stay Calm and Keep Humble…