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Another option people fail to consider is not pursuing a term sheet from Sequoia in the first place. Go get money from customers, instead.
by hugs 9y ago
Another option people fail to consider is not pursuing a term sheet from Sequoia in the first place. Go get money from customers, instead.
- mertd 9y agoSome products require a great deal of initial investment to even roll one unit out. Not everything is an app or a service.
- extrapickles 9y agoThe initial cost for unit 1 can be quite expensive (>500k) if its a non-consumer product. Outsourcing production is hard with lower volume products that require modifications to meet customer needs (eg: they need M6 screws holes instead of 1/4-20 or want it in a particular metal). Contract manufacturers are generally interested in making 10k+ of the same item, not 100.
- amarkov 9y agoThat's a great option for a founder to consider, but it means you won't have the resources to give compensation that's even competitive on paper.