What was the problem you were facing?
Our Series B investment thesis failed miserably, leaving us in debt. We were in a not-so-ideal position of having to court new investors with virtually no leverage. This problem was the result of different factors: we had underestimated the underlying risks, there was a minefield of escalating tensions between investors and management, and several seemingly concrete deals fell through at the eleventh hour. The challenge was to find the ideal way to convey this dire situation to prospective investors.
Whom did you approach for advice?
I felt the solution could come from someone who could offer that invaluable perspective from the other side of the negotiating table. Despite years in business, the investor mindset had remained somewhat opaque to me. So, I turned to a trusted college classmate who had been in the venture capital industry for some time.
What was the advice you received?
His advice was refreshingly direct: resist the temptation to shift blame to market conditions or previous investors and instead shoulder the burden yourself. The art of leadership lies in harmonising discordant voices into a coherent strategy.
How effective was it in resolving the problem?
The unflinching approach to accountability proved transformative. Armed with this philosophy, we secured our next funding round, freed ourselves from the suffocating debt, and have since steered the company toward sustained growth.
The experience became the foundation of our guiding principle: we alone architect our destiny. No market forces, investor decisions or external circumstances can absolve us of that fundamental responsibility. This mindset has become embedded in our organisation’s DNA ever since.
—Team BT
