Start Up Blog

My new startup

Posted in entrepreneurship by Steve Sammartino on November 19, 2009

I’m launching a new startup. For those who don’t know about it here are some of the key points:

  • The brand extension comes from an already successful enterprise
  • The partnership & legal agreements were entered into over a year ago
  • The idea is not an original one, rather a new execution of a proven formula
  • We didn’t pitch the idea or ask for permission, we just did it
  • It’s a brand extension
  • It’s a self funded project with no external capital. But we wont have ownership
  • We will give away the corporation, once it is cash flow positive
  • It’s a very long lead project
  • It wont be cash flow positive for more than 20 years
  • Estimated cost of the project is around $500K
  • We do expect to however, to yield emotional & community benefits very early after launch
  • It’s an industry we’ve never worked in before, but have a natural flair for it
  • Some of the product development will be outsourced to 3rd parties
  • Outsourcing will occur in 3 large segments of up to 6 years each
  • The most important product development will be done in house
  • There wont be any major advertising, brand awareness will be driven through family & friends
  • We already know it’s unique, but wont require any intellectual property protection
  • However, major security measures will be taken to protect the asset, especially in the incubation phase

My new startup is my baby due January 25th, and it’s the most exciting one I’ve ever been involved in. We’re involved in more startups than we think…

Startup Blog says: Let’s not define ourselves by what we own, but the cool stuff we do.


11 Responses

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  1. @farhan said, on November 19, 2009 at 11:03 am

    That’s wonderful! Congratulations! Well done!
    Really caught the attention, right to the last moment.. but it’s so true ;)
    Now if only we did that in real life, eh? ;)

  2. Jonathon Lai said, on November 19, 2009 at 11:08 am

    I was thinking a new project but this is much more exciting!!


  3. Tim Moreillon said, on November 19, 2009 at 11:12 am

    i loved the post. it was business, but heartfelt and had a cool twist. all the best for jan 25! (or thereabouts!)


  4. Ben Calvert said, on November 19, 2009 at 11:20 am

    You are a nut, Steve. Very clever.

  5. Milligna said, on November 19, 2009 at 11:39 am

    Congratulations on the new enterprise, dude!


  6. Daniel said, on November 19, 2009 at 11:41 am

    This is the best startup ever!


  7. Rene Cunningham said, on November 19, 2009 at 1:54 pm

    Cash flow positive in 20 years?! my parents startup hasn’t hit cash flow positive in 29!


  8. Tim Cinel said, on November 19, 2009 at 10:34 pm

    Wow, I’m cynical. I thought this was satire or something when I started reading. Congratulations and such a great piece of writing for your audience.

  9. Zev Schonberg said, on November 19, 2009 at 11:00 pm

    That was awesome. Such great writing, that I enjoyed it while reading and even more when I finished. As a parent of 5 kids (under the age of 10), I can tell you that your positive, yet humorous attitude will go a long way in making your parenting successful.

  10. New non-profit « Start Up Blog said, on February 8, 2012 at 4:41 pm

    […] You may have noticed the lack of posting recently. And just two years ago I posted about a new startup here. […]

  11. […] most important in my portfolio – the capstone of all the matters to me. Within it, we have two other startups, otherwise known as children.  So my wife and I are investing a few days where our entire focus […]

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