We are still waiting for the documentation from our attorneys that would finalize a deal with our Angel Investor. That has not happened yet, but we expect that to happen tomorrow and I am not worried about it. As part of the deal, our investor has also come on almost full-time to help me run the company. He owns a sales training business, so it's complimentary to the services that we provide.
Bringing the two companies together even in an informal sense (this is not an actual merger, but I am using the secretary, bookkeeper, and accountant
for his other business, so we are more or less merging documentation and files just for ease) has been a little problematic, but the nice part is that I haven't had to deal with it. My new partner has a team of advisors and administrative people who are handling everything and I just check in each day to ensure that we are progressing.
Even though I am not handling the administrative component of all of the changes I am feeling very overwhelmed by everything going on. It can be difficult to balance everything, and then still have time to run a business. Right now we are looking for new office space to combine our staffs, we are in the process of renegotiating our contract with a major client, and I am pouring our hundreds of pages of legal documentation regarding the our deal with our investor. I am excited for the day (which may be several weeks away still) when I can focus exclusively on bringing in some new clients to Acquirent.
In the next week, we hope to sign the documentation and move forward with a new strategy. Part of the new strategy will surely be to move upstream with our client base. There will be some bumps on the road here because higher-level clients expect a higher level offering and I'm not sure that our infrastructure is yet commensurate with those expectations. I'll be back next week to report on our progress.
Diary of a Startupis a weekly blog written by Pete Kadens, founder of Acquirent, an outsourced sales execution company based in Chicago. Click here to read last week's column.