A couple of things here. First, look
for our "words of wisdom" Insiders coming out
over the next few months...great for anybody thinking
about starting a company or already there. Second, all
of the Insiders are now available for download in .pdf
format on the website...we've even added a few extra bonus
features.
Lessons
Learned
OK, so this is going to be the last 'chapter'
of this version of the MouseDriver Insider. As we mentioned
in the last Insider, we're going to package all of the
insights/lessons learned/words of wisdom into the next
few Insiders. Basically, it'll be a retrospective look
at what we did right, what we did wrong and, in our humblest
opinion, what we think are key things that every entrepreneur
and potential entrepreneur should know (of course, this
is all based on our personal experiences and is purely
subjective). It'll be cool. On that note, we've finally
gotten around to putting all of the past Insiders into
an Adobe Acrobat (aka .pdf) file and have made this file
available for download on the website at http://www.mousedriverchronicles.com/newsletter.
Not only will you find all of the Insiders in their entirety,
but you'll also see that we've highlighted the business
topics covered in each Insider edition and, where possible,
have cross-referenced the Insider topics with corresponding
chapters in The MouseDriver Chronicles. And for those
of you who are really lazy, we've actually indexed the
topics discussed in an appendix. We're actually pretty
proud of ourselves for finally getting around to doing
this…been meaning to do it for a while. Let us know
what you think.
So what about the state of our company,
Platinum Concepts? Well…it's becoming clearer and
clearer that a sale of the company along with all of our
associated MouseDriver assets (patents, trademarks, inventory,
etc.) may not happen by the end of the year. Six months
ago we were pretty confident that we would have no problems
selling the assets to a larger company looking to extend
its product line, but now we're not so certain. And we've
contacted a ton of companies. Maybe it's the economy or
maybe companies are simply not interested in the product.
Who knows? We do know that if the company isn't sold by
the end of the year, we must close Platinum Concepts,
Inc. We will still retain all of the MouseDriver assets
and will be able to fulfill larger orders (i.e. from retailers
or corporations wishing to purchase large quantities direct
out of Asia) and/or sell the assets down the road, but
the company, and all of the expenses associated with running
the company, will go away. For all of those who have never
had the pleasure of shutting down a company, it's actually
a pretty monumental task (read: it's kind of a pain-in-the-ass)….but
should be a nice 'closing' experience to this phenomenal
story.
Given that we're in the process of winding
down the company and now have some time on our hands,
the two of us have been busy exploring different options
and opportunities. For the first time since graduating
in May, 1999 we've had time to actually research, network
and speak with different companies out there where opportunities
that match each of our goals exist. Don't worry, we are
both still very entrepreneurially minded and are focusing
on companies that will allow us to continue being 'entrepreneurial',
either in a small organization or a larger one. One of
the tough things about looking for the next opportunity,
after being an entrepreneur, is that you tend to be very
picky…which is not necessarily a good thing…especially
if you're so picky that nothing seems attractive. However,
one the great things about being an entrepreneur is that
you pretty much know what you're good at, what you're
not good at, what you want to do next, etc. And…you
have a very good idea of the type of opportunities and
companies that you want to target. Neither one of us has
made a decision as to which opportunities to pursue, but
we have a number of different options and hope to have
something nailed down by the end of the year. Until then,
we're enjoying our time "off"!
When you get a chance, go check out the
discussion board at http://216.120.234.168/~totalli/forum/forumdisplay.php?s=&forumid=13.
That thing is really starting to gain traction. Due to
the number of universities and professors making the book
required reading in the classroom, we decided to add a
forum that's dedicated to discussing the book. Hopefully,
this forum will be used by students to help facilitate
classroom discussion of the book and prove to be a valuable
resource for learning more about the entrepreneurial experience.
We haven't done much to actually promote the new site
and the board, but hope that visitors continue to register
and ask questions. There are some phenomenal questions
out there and some amazing answers and insights. We'll
continue to make changes to the board, respond to questions,
pass along insights, etc. and hope that it continues to
attract visitors. At the least, it serves as a medium
for the two of us to continue to give back.
What
We've Done
- Started to
take the necessary steps of shutting down the company.
Notifying retailers, working with our accountant, taking
inventory, etc.
- Successfully released a paperback
version of the book in the UK through Simon & Schuster.
- Spoke to an entrepreneurship
class at San Francisco State University. They emphasized
the fact that we were a good example of a couple of
socially responsible business dudes b/c of our willingness
to share our experiences. Good stuff! (the professor
actually used the phrase "Learn, Earn, Return").
- Added a 'Click to Give' button
to the MouseDriver Insider website page to see if people
are willing to donate money to help keep the site, and
the MouseDriver community, going.
Priority
Goals
- Continue marketing
and building out the MouseDriver website as an entrepreneurial
community where people can go to discuss entrepreneurship,
to gather information and to find inspiration and motivation.
- Sell all of our remaining
inventory and clear out all units still held in our
existing distribution channels.
- Sell the company and/or
prepare the company to be shut-down by the end of the
year.
- Continue looking, independently,
for our next opportunity.
Mood
Meter
We're still stoked! We're also anxious,
nervous and a little impatient. Bottom line: we're ready
for some serious interaction, we're ready to be part of
a team, we're ready to help companies grow (in whatever
capacity that may be) and we're ready to embark on the
next challenge. The more opportunities that we see out
there, the more motivated and excited we get to make things
happen…again. It's like winning that first Super
Bowl…all you want to do next is win another.
Questions, comments, or criticisms about
the Insider? Email us at info@mousedriverchronicles.com.
