Well, I've pretty much worked down my notes and thoughts. It's quite a lot really, considering it was just a two hour meeting, a two hour tour and a one hour luncheon. It helps to know what questions to ask and what "innocuous comments" (like the reference to Dr. Baruch Fischer) contain deeper implications.
I'm interested now in seeing others' thoughts and comments, especially those who attended the meeting.
One final point. After the tour, I had lunch with five investors, including Pat Mudge and Ron Stange, and three other gentlemen.
We discussed the meeting, the positives and the shortcomings.
One of the shortcomings was that a question was asked from the audience to Noam and Edmund to explain their new business concept further, and they were not really able to articulate a good reply back. If they couldn't explain this well to us, how can they explain it to the investment community?
Now, maybe it was just that, articulation, but I think it is more that they have not thought through their business plan to the detail that they understand their product plan.
We discussed this apparent lack of business plan, and things like Mission statements, and one of the investors, "Tony" stated that he was a former banker (I think he OWNED or RAN a bank, not just an employee), and now he has his own Consulting business helping small company's with their business plans, and that he was going to call Noam and "volunteer" his services.
There was a collective gasp at the table, as we all realized that this is exactly what MRVC is missing and could use help with.
Noam, when this man calls, please seriously explore what he has to offer.
Here is part of the man's business card, that he gave me:
"A successful business operates in accordance with a crafted Business Plan Model and a written plan."
DO YOUR BUSINESS PLAN
Tony -
Management Consultant
Noam, this man can help you - and us. |
