Entrepreneur: Day 1

Up at 5 AM, plowed through all the emails from friends and family that were wishing me luck. As I’m writing this I’m heading for north Florida to work on fleshing out some additional opportunities. It’s 2PM. Left at 10. I think I’ve hit every Five Guys Burgers on the way as well as The Hard Rock Casino. Not the best use of time to be sure. To make up for it, I paid off my car. I started updating the business plan, the Executive Summary, Market Opportunity, Financial, and Bio’s were mostly completed last week. The three partners, including myself, had also worked out the initial number of shares, their value, and when we would file an 83(b). If you’re not familiar with the 83(b) then grab a copy of Do More Faster and take a look at the “To 83(b) or Not to 83(b), There is no Question” by Matt Galligan. There’s a great explanation of what your exposure may be and how to deal with it early on.