However with all these truths, I have witnessed start up entrepreneurs who are bathed in credit card debt, upside down in home equity and on the verge of losing their jobs, who wish to start a new start-up company. When designing their business plans the first thing they say is; “I need a minimum of $5,000 per month to live on” well welcome to the real world, because until you get funding for your project no one is going to be paying you a G-Darn Dime. They say; “But we will sell millions of these products, on TV infomercials!” yet they do not even have a prototype to show anyone and not even certain if the product is possible in building in the first place.
Recently I got a little miffed at one gentleman who had this line of reasoning and told him point blank, it will not work and said;
“Too bad you cannot get by on less than $5,000 per month. Too bad you cannot or are not willing to work more hours. Too bad you do not have any investors lined up. Too bad you do not have an executive team ready to jump into Phase II. Too bad you do not want to make it yourself, get your hands dirty and have no confidence in building the first one. Too bad you are afraid. Too bad you have never done a TV infomercial product before. Too bad you have never done a seed to weed business concept before.”