Eloqua CEO: “We Had $200k in Bank Day Before IPO”

Joe Payne, Eloqua, Says Company Had $200k in Bank Day Before IPO

Joe Payne, Eloqua

Talk to most entrepreneurs, and you’ll likely hear incredible stories of near-death experiences.  I can’t think of one entrepreneur I know who hasn’t stared failure in the face (in some cases, multiple times).  It’s scary, sometimes nearly incapacitating — but you somehow find your way through and life goes on.

Here’s an anecdote to remember next time you’re feeling down: Eloqua (who happens to a quasi-MindFire marketing automation competitor), had a successful IPO in August of this year (they raised $92 million).

But according to Bill Flook of the Washington Business Journal, Joe Payne (CEO) reports that they only had $200k in the bank the day before going public.  Holy cow!

From looking at Eloqua’s SEC filings, I don’t think they were in any near-death situation, but it just goes to show that to be an entrepreneur, you need guts (and tons of help — it’s very difficult to do on your own).

Kudos to Joe Payne and the entire Eloqua team for their continued success. Here’s the full article on the Washington Business Journal.

What about you?  What near-death experiences have you had?  Do you agree that nearly everyone goes through them?

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Mind Hack: Increase Your Ability To Foresee The Future By 30%

I’m not a negative person, but here’s something I’ve noticed: projects fail at an alarming rate.  One reason seems to be that people are afraid to speak up during the planning phase.  Unless you’ve fostered a safe environment that encourages people to raise issues, concerns may fester in silence and only become evident when its too late.

A premortem is a technique (pioneered by a psychologist named Gary Klein) for minimizing this kind of risk.  Instead of being held after an event like a postmortem, the premortem is Read more of this post

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