My post today on White Bull offers yet another reason to not sell out:
I was speaking to a man who has some incredible new technology that has the potential to disrupt and perhaps even revolutionize his industry. Some big VC names have taken meetings with him, and they were encouraging him to do two things that he found more than a little puzzling. First, they wanted him to ask for considerably more investment than he believes he needs in order to accomplish his objectives. Second, they wanted him to completely change course from offering what is naturally a professional service to what would be a consumer product.
I’d also recommend watching the interview with the White Bull himself on reinvention. No business plan ever survives contact with the market for long. Just look at Castalia, or Infogalactic for that matter. For me, the byword has always been Coleco. As in COnnecticut LEather COmpany.
When you understand how a leather company ended up briefly becoming the number three player in the video game industry, you will grasp the vital importance of reinvention.