I’m running a SaaS company with a platform & we have a few small time paying customers after 6 months of sales. My cofounder has another gig to pay the bills, but oversees some work with our developer at night. He is the idea guy for the platform and I’m the business guy. Otherwise, he isn’t a good business partner, not providing help at all in sales or being able to turn to share emotional issues, frustrations, etc about the company not being able to raise money or sell more. His communications skills are bad, including not returning emails and texts promptly or following through on things. I’m out here on my own…this isnt my first rodeo and I have been down this road before with several other startups and it sucks.
My day consists of waking up and cold calling potential customers. I’m good at selling, but this is a competitive space with a slow sales cycle (government related). As mentioned, we haven’t been able to raise more money, so we dont have the money to properly market the software or hire salespeople. The lack of fundraising is a source of frustration in itself. The guy I hired and paid $30K to help us with the capital raise has not delivered, so I terminated our deal.
I’m hanging in there, but 2+ years without a dime to show from this gig (I have another company on autopilot so that pays the bills), and everyone else who isn’t working full-time is making money and I’m not and I’m the full-time dude. I do own 50% of the company, but 50% means little if we never sell and I never draw salary. Also, people I have helped in the past have pretty much been non-existent when I have asked them directly for help with introductions.
What can I do next? Why can’t we raise money? How can we sell more? I have a positive attitude in public and believe in our product, but investors won’t budge. Without cash, we will crawl along. While I love startups, it’s much better when there are others along for the ride.