Progress towards my financial goals – Do you have a plan? – #2

As many of you are unaware but have had similar experiences, I should state that I almost reached my financial goal some years ago, and not reaching it completely at that time was a bit devastating, though I learned some important lessons from it. I had worked very hard bootstrapping a business for around 7+ years which began to grow very quickly during the .com boom, then my partners insisted to bring VC investors to grow the business quicker, which it did, though after about a year had to be sold because a) could not keep up with the burn rate, b) management refused to make necessary adjustments and c) VC investors are very hard to deal with, especially when you are the only potentially profitable investment they have had in almost 2 years!

So one of the offers to buy the business would have given me my financial goal plus a few. That offer was canceled at the eleventh hour, literally. Another few offers were on the table for much less and one of those was executed. I received my checks in the mail as scheduled and did as I had planned with them (in hindsight could have done much better!). In a flailing market, with a family to take care of and other conditions it took me back down to zero in around 8 years time.

Though I have much less financial responsibilities at this time it seems just as hard to build back up again. My goals, of course, are much smaller now due to some essential things I have learned, failed, learned again and have practiced for the past few years. I have not considered myself to be back in build mode until last year, though my vehicles are much much slower then the previous round, we will see, at any rate:

Financial Progress Report: I am 65.50% towards my short term goal and 1.2056% towards my long term goal. At this time!

My experience with the lendingclub.com – #5

For those of you who have supported by following the blog and our sponsors, thank you. I will be posting an update snapshot around 1-2 days before the first note payment is due (Feb-07-2011). That is to give the reader who has not invested yet an idea how things look at that time. I will also post a few more snapshot views after 15 days and just before a month is up and again on / around day 1 (a month later). At that point I believe that will conclude the frequent snapshots I may post once a month or once a quarter after that or may not post again at all, depending on schedule and interest. Again thank you for supporting the blog and comments always.

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