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Consider also the option of getting funding from a first customer. Many, many people have signed a contract on the basis of a napkin pitch before -- for exampl
by patio11 13y ago
Consider also the option of getting funding from a first customer. Many, many people have signed a contract on the basis of a napkin pitch before -- for example, approximately every consulting engagement ever. You can even sell the same napkin to multiple people in parallel. You can then take the contracts or memorandums of understanding to a bank and say "Hey, these represent money in the future, can we have money today?" and have that happen.
I apologize to all the business guys who are looking at me in slack-jawed amazement right now but they don't teach this stuff in engineering school.
- mindcrime 13y agoI love the idea of fund-raising from customers. There are a few different angles on it, and one memorable one was the TextDrive thing[1][2]. That turned out a little bit controversial later[3], but it illustrates some nice, creative thinking. Is there a way you can get your customer to commit some money today, to an extent that they might not otherwise, based on future considerations? If you can do it without creating a scenario that bankrupts you in the future, it might be worth a shot. [1]: http://www.joyent.com/blog/celebrating-textdrives-three-years http://www.joyent.com/blog/celebrating-textdrives-three-year... [2]: http://photodude.com/2004/06/01/textdrive-or-how-to-raise-40000-in-4-days http://photodude.com/2004/06/01/textdrive-or-how-to-raise-40... [3]: http://techcrunch.com/2012/08/16/cloud-computing-company-joyent-leaves-early-supporters-out-in-the-cold/ http://techcrunch.com/2012/08/16/cloud-computing-company-joy...