What I learned from Dorm Room Fund

Being Investment-Ready is Tough, I’m not Close to Ready

Aug. 22nd, 2016

And I’m back, after two months, time to start blogging again. I think moving forward, I will be much better with documenting my experiences and my learning (I didn’t actually write the posts Day1-Day17 on those days).

Today was an interesting day, mainly because of my conversation with Jeff, from Dorm Room Fund. Dorm Room Fund is the first organization that I’ve ever approached asking for investment. So, this was all new to me.

I was hesitant to have the conversation, because I knew I wasn’t ready. I knew that I didn’t have the answers to the questions investors usually ask. I knew that I could not offer an opportunity with a clear return on investment. But I also knew that this stuff didn’t matter so much. What mattered was my learning, so although uncomfortable, I decided to have the conversation. And with permission, I recorded it.

After listening back, it became pretty painfully obvious: I am still really confused about what I’m doing. When asked the question, “in most simple terms, what do you do,” I practically froze. My response: “…yea…so…that’s always a difficult question to answer” Yea, great first impression Ethan, you don’t even know what you do? As someone starting a company, aren’t you the guy who is supposed to have the clear vision, the guy with the idea of how to execute that vision? Yea, I guess I’m supposed to be that guy.

This process is frustrating. I’ve had this little idea for so long, and I often feel like I have been running in circles, going absolutely nowhere. What is your idea? How is it going? Why did you do that? These are existential questions!!

It’s hard to have the answers. I know I should have them, but at this point, I have figured out that I am not the best at coming up with answers. Lots of ideas, lots of energy, lots of networking, lots of learning. Less results, less progress, less profit. I wish my actions lead to more results, that way I wouldn’t need to consistently be judging myself and justifying my actions. That way I wouldn’t need to work so hard to convince others that I know something that others do not. Maybe that’s it, I don’t have it figured out still, because if I did, I would be where I want. But I don’t. Give me some time to grow, and I think I’ll get there. Stick with me. I think it takes patience.