Weekend reading, "North America through the eyes of a European"

Episode 20: What next?

For those of you who have been following our story to date, you'll know that we were facing a classical problem in our business: financing.  It's a pretty "normal" problem in the life of a business, and I have to admit it's one we'd met before,, and conquered with little problem. This time however, the circumstances were...a little different to say the least!

Our last business venture had been funded in Europe, before the famous "credit crunch" that touched the lives of so many people, across so many countries. Our personal, and business standing allowed the banks to give us the go-ahead for a project worth in excess of 1.3 million Euros.
No partners were needed, and non were sought. We'd always "done it alone" simply because we'd always been able to. But today's situation was different...

Still with a healthy portfolio of properties in Europe, our borrowing prowess had been severely restricted by the real estate crash. Central Paris was still holding it's own, but even it's very close perimeters were suffering. Prices had plummeted, were still sluggish, and things were not likely to change in the near future. Our investments were managing to cover themselves, but it would be a while before we'd regain the equity that had been lost: and that meant no bargaining tools for other investments, not in Europe, and certainly not on another continent!

So what were our alternatives? The banks? We'll as much as they loved us, the company, and our services, the banks were not eager to write us a cheque until our products were distributed nationally, and showing the sales we knew were just around the corner. So, what about family? Well as all you parents out there know, no matter how big you grow, you're always a son, or a daughter to your parents...always a brother or sister to your siblings...and believe me, I'm no exception to the rule! But whenever I buy a home, I always like to have one with an "emergency exit", not so much a physical back door, but a financial one. All of our homes to date have had an option that could be "optimized" case of financial hardship: a separate entrance to a self-contained basement, an independent wing, or guest house, that could be rented out...

The "family card" was definitely the one option that kept me sleeping peacefully at night, but not one that I planned to play this early on in the game, not if I could help it!

So, what next?...well maybe fate was going to have it's hand in our future, and I for one was not going to underestimate it's power...merely days after hearing of the shocking demise of our English investor, I was told that the CBC investment program, Dragons Den was auditioning in Montreal that coming weekend.  Now there was a decision to be made! I mean, guys, have you SEEN the show??

As a viewer, I find it magnetic television (it's also a show that I knew from the UK), with all the right ingredients: business interest, real people, and enough squirm-creating drama that just keeps you watching!

But as a business person, was I prepared to "bear all" on national TV for the price of a cheque? And was I willing to give up ANY of my business?



This, of all my decisions, could end up being the hardest, and the most telling of any to date...I had absolutely NO idea which way I was going to lean. All I knew was that I had 2 and a half days to decide whether to go to the auditions or not...the clock was ticking!