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A self-funded business requires a major mindset shift from a venture-backed one.
When you get money from investors, you get money ahead of revenue. But when you self-fund a business, you’re using your money to get to revenue.
And those are two very different things.
A self-funded business requires more of a conservation sort of strategy. It affects how you budget, how you spend, and what actions you take.
When you raise money, it’s about using the money to get to milestones that are meaningful, so that you can raise more money. Those milestones tend to be aligned with your revenue.
When you don’t raise money, you’re basically scrambling to figure out how to get to revenue so you can be Ramen profitable, or you can quit your day job, or match your current income.
This is very different than getting a stack of money that you have to figure out how to use.
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Featuring Hiten Shah on Smart Passive Income Podcast with Pat Flynn - Episode 557
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Негізгі бет Ойын-сауық Venture-Backed vs Self-Funded Businesses - Hiten Shah
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