The journey to building a company and getting a successful business off the ground is rife with moments that either challenge or solidify relationships. However, there will be a few watershed moments along the way that will sit close to your heart because they define your relationship. This is the story of a day that defined and solidified my partnership with Carol (my friend and business partner).

In this previous post, I shared the story of my first investment proposal that went horribly wrong. A major reason for that pitch going wrong was my unpreparedness. I asked for an investment of over a quarter of a million dollars but I didn’t provide a detailed financial forecast or a cash-flow break down. Potential investors want to know exactly how their money is being used, and when they can expect to see some returns – if it was your money, wouldn’t you expect the same? When I convinced another potential investor to let me pitch my idea to him and his business partner, I knew that I had to be better prepared with a financial forecast and detailed cash-flow. So one autumn Sunday afternoon in October, Carol and I went to work on doing just that.

We started around 2pm on Sunday afternoon and worked away, line by line, item by item, how every single dollar would be spent. At about 6pm, I got a call from my son’s mother who insisted that I pick him up and watch him for a few hours. It was a 25 minute drive each way, but when you need to take care of your child, you drop what you’re doing, and you get it done. Carol was very understanding and continued plugging away while I went to get him. When I returned, I had my 11 month old son in one arm, and a stack of papers in the other. He had attachment issues back then so he refused to let me put him down – I secretly didn’t mind. However, it was hard to be productive while trying to entertain a baby in a small apartment; but we kept working away.

Midnight passed and we were still working on the spreadsheet. I had no intention of going to bed until everything was complete, and I realized that Carol has the same mindset. As exhausted as we were, we both kept plugging away and encouraging each other; that’s when I really realized that we were going to be a strong team. We worked relentlessly through the night until finally, at 6:15am, we were finished. Over 16 hours spent on that spreadsheet, but it was complete. After taking Carol home, I came back to bed, slept for 3 hours, and was at the gym for my 11am client. Carol also had work the next day.

That night I realized that I had a partner who is as hungry and passionate as I am about this company. That spreadsheet is the foundation for all the future spreadsheets that were eventually created, and it helped us land the perfect investors… more on that later

Remember:

• When the initial excitement of a new project wears off, that’s when commitment, discipline and dedication come in.
• Carol and I recite this every time we hit an obstacle with this business: “If getting rich was easy, everyone would be doing it”. It’s a simple but effective reminder that building a successful business is supposed to be challenging.
• Lastly, in the words of the late Steve Jobs, whose Stanford commemoration speech really inspired me to follow my dreams: “Stay hungry, stay foolish”.

Watch his speech here: