Putting Myself to the Test, Act II
Reading my last post (Act I) sets the stage for what happened when I considered an investment in a startup company my son would be a part of.
I went to LA in early August to meet with the principals of the startup, to learn in more detail about their business and to assess whether I wanted to invest in the venture.
We met Friday night for dinner. The lead founder was as anxious as I was for learning what each was like-she was going for character and so was I. In her 30s, with no children, she impressed me with her clarity of vision, her work ethic and her personable nature. It was like looking in a “soul mirror” and finding a younger version of myself that was both delightful and scary—scary because it felt so good that my enthusiasm might addle my judgment going forward. We then talked about what her mission for the detox house is and how that philosophy would dictate the quality and quantity of services offered.
The next day we visited some of the services that would be available for detoxing persons. The first stop was for cyrotherapy, a therapy that acts to reduce inflammation and encourage healing. I wanted to put myself in the shoes of a person detoxing and experience what they will be going through while at the detox house. That meant stripping down to nothing but gloves and knee high socks and entering a chamber the size of two refrigerators at -200 degrees Farhenheit.
The first 10 seconds literally took my breath away and I nearly panicked, but got through that by singing to myself and thinking of Artic explorers and their persistent plight in the cold. I’d been reading a book, NYT’s Best Seller, #In the Kingdom of Ice, by #Hampton Sides that tells of the US Jeanette’s expedition to the North Pole in 1879 (my great grandfather was the navigator) and describes how the men abandoned the ship when it was about to be crushed by ice floes and lived for nearly 100 days in sub zero weather with little protection. What a wimp I’d be if I couldn’t manage 1.5 minutes in a deep freeze!
Exhilarated and relieved to exit and glad to know a massage followed just after a stoked up vitamin shot,I was impressed by the holistic approach to getting through the rough days of detoxing.
Nick and I then talked about all the angles of this possible investment-what it would do to our relationship if it didn’t work, was it a good business deal and could we separate the worthiness of the investment from the possibilities it offered him? We are both expressive, process-oriented people, so I think we did a good job being forthright and honest. Though he’d be disappointed, he clearly didn’t want me to do it if he thought I couldn’t trust the principals or it was putting me at too much risk. Of course, we were both excited about being part of a business venture together.
The next day we all met to go over the business plan. With many direct questions asked on both sides, we covered all the bases and left feeling the possibilities that lay before us.Both sides had supplied enough information, both personal and business, to decide to go ahead with the deal.
Now, 3 weeks after our initial meeting I continue to be impressed with the competent and effective people the founder has brought in to staff the facility when it’s up and running and to strategize marketing efforts. She has followed through on every detail, as have I. I know this is a “honeymoon period” and there will be bumps here and there, but the forward thrust and execution gives me confidence that I made the right, though risky, decision.
Stay tuned for more follow ups and please share any such experiences you may have had.
Maggie Baker, Ph. D.
Psychologist – Financial Therapist
Author of Crazy About Money: “How Emotions Confuse Our Money Choices And What To Do About It”.