A founder describes the panic of running out of money after six years building a SaaS product for medical image sharing. Without new funding and no clear path to scale, the company is forced to seek a merger. The lesson: runway management is life or death.
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I'm just thinking that there's hardly anything more addictive than running out of runway and finally getting liftoff. That's a great feeling. It's also, to your point, a dangerous place to be, because a friend of mine's company right now, after 6 hard years, he's running out of runway and he can't raise any more money. Now he's at that point where he's looking for a merger. Some way to rescue where he is. Does he have a scalable product or service, or what type of business is it? If you go to your doctor and ask for your medical images, and then you take that CD, and if you're, you know, a certain age, you say, what is this? And so they've got a, a SaaS that Makes, you know, image sharing super easy, super cheap.