Finding willing venture firm can feel like dating

CO Everywhere’s cofounder Tony Longo (right) with Melki Ko
and other employees.

One of the most critical steps of starting a venture--aside from the product or service itself--is securing the funding needed to support and grow the enterprise. Later in the semester we will spend some time on the avenues and options for obtaining venture capital. But this article from the Boston Globe on January 5, accurately describes a rather typical case. Not only did the founders need to persevere, but they also saw that they needed to substantially modify their initial product idea and even change the company's name.

One notion I have had trouble determining in entrepreneurs is the line between perseverance-- and stubbornness. At what point in pursuing an idea should one be willing to admit that, well, maybe this is just not a good idea, and move on?