7 ways to raise money for your start-up(16thletter.com)
16thletter.com
7 ways to raise money for your start-up
http://www.16thletter.com/2008/02/19/7-ways-to-raise-money-for-your-start-up/
6 comments
Right on the money...
A few years ago I went to a talk with a serial entrepreneur with one of the most impressive CV's I've ever seen. This guy has started more than 40 successful companies, the first one when he was seven, and had one of his companies sold for more than a billion dollars.
His formula for success is respect for customers. He said that he has never started a company without first having at least one customer. He also insists on taking engineers to sales meetings because they are great at selling technical products: They understand what they are talking about and they think what they're doing is really neat. Customers notice that.
A few years ago I went to a talk with a serial entrepreneur with one of the most impressive CV's I've ever seen. This guy has started more than 40 successful companies, the first one when he was seven, and had one of his companies sold for more than a billion dollars.
His formula for success is respect for customers. He said that he has never started a company without first having at least one customer. He also insists on taking engineers to sales meetings because they are great at selling technical products: They understand what they are talking about and they think what they're doing is really neat. Customers notice that.
"Why does everyone always leave out one of the greatest ways to fund a company: customers?"
Not everyone. Of course, those who would mention customers are too busy pounding the pavement to be here right now.
Not everyone. Of course, those who would mention customers are too busy pounding the pavement to be here right now.
Yeah, sell something. It is not only a great way to fund operations, you also learn what people really need. How cool is that?
Good point, although that's generally the slowest way to raise money. :-)
Interesting idea about govt grants. Never thought of that one.
Yes, I know, raising money helps you scale up to become huge ... but most startups never get to that stage. The easiest way not to run out of money is to make something that people want so much that they'll pay you for it.