Hit the end of April and pulled out another 20K USD from my own funds to pay the overhead. There’s a few supplier invoices outstanding and a 300K investment is going to fall through.
I have about 6 deals I am chasing which are moving along slowly. They’re all in some form of due diligence, data integration or contracting/procurement. Two of them if they close will give me 165K total which will pad out runway until the end of the year and more importantly give the business significant social proof in the market. One of these contracts is a POC and has the potential to expand to 500K ARR.
I also have Front End and Back End engineers leaving and I need to replace them. I’m not worried about it but I do need to factor in the additional cost.
If these contracts do not close in the next 30 days I am thinking about either winding the business up, cutting to profitability or selling a property to put in additional funds. I have enough personal funds for another 3-4 months before I have to do that.
Anyone else been stuck in long sales cycle hell and did it ever work out or did it turn out you were chasing a mirage and that those deals were never going to close?
