John Dimmer

Recently John Dimmer from Firs Management spoke to our class about funding a new company.

John has many years of experience in banking and funding start-ups. He actually started his career as a repo-man. He was actually the most successful repo-man in the bank. Over time he moved up the ranks and eventually felt ready to move out on his own and start a business.

A cousin or brother or some friend of John's was selling a new technology called an internet browser. This was back when there was only 48 websites online - 48!!!! John had always wanted to start a business and this friend was thinking about starting one too. At the same time Andrew Fry was leaving Microsoft to get into multimedia. So John, his friend, and Andrew all decided to go into business together. They started an online media company called Free Range Media.

Free Range was sold and John now works for his father's investment company - FIRS Management.

John seemed to be very focused on the people in business. He places a priority on integrity (which is my number 1) and passion (which is my number 2). This reminded me of something a friend once said, "Employers don't hire people, they hire passion."

Of everything John shared this table was most interesting to me:

Company Evolution Concept Start-up Growth Phase Expansion

Financial Performance: Pre-revenue Nominal, Not Profitable Moderate, Break-even Profitable

Funding Sources: You Friends and family Angels VC

Amount Invested: As much as possible $25k - $150k $150 - $2,500k $4 million plus