Blogosphere on Bootstrapping: Tim Berry
Tim Berry says something that many of you have heard me say repeatedly at the roundtables: The Best Startup Funding Is Initial Sales. And yet, every week, I work with entrepreneurs who do not seem to listen to this simple piece of wisdom:
Even if you do need to go out and find investment–and I speak now as an actual angel investor–there’s almost nothing as convincing as actual sales. People are spending money on your product or service. It makes a new business proposal far more credible.
I keep telling you, there is a huge difference between a validated business and an unvalidated business. And if you can show sales, you have a validated business.
From there on, getting additional customers is easier, because you already have reference customers, and getting investment is easier because investors put you in an entirely different risk bracket.
Allan Young →
This segment is part 7 in a 13 part series
Jump to part: Luke Timmerman, Brad Feld, Taylor Davidson, Jeff Cornwall, SVB, Dane Carlson, Tim Berry, Allan Young, Anne Clelland, Marc Dangeard, Jonathan Gosier, Marc MacLeod, Cathy Bogaart
