Bust
You shouldn’t laugh—the BBC reports on the sheep that turned. Also, there should be a new section of F*cked Company that caters for people like letsbuyit.com—why not call it ’Am I Going Bust Or Not?’. I have trouble understanding stories such as these. When I went out to found a dot com (not this one), the bank said ’where’s your business model?’. I showed them the business model, and they told me to get lost. I then made a few minor alterations and went to another bank, who also said ’where’s your business model?’. It took seven redrafts for them to be as confident as I was with the idea, and only then would they show me the money. Was it only me that was queried like this? Do the investors not check business models for everybody? I never went bust…