I am not ready to start selling off chunks of my start up quite yet, but I also don't seem to have means to secure more non-equity funding.... Any recommendations? Thanks!
I like the way you framed this question. Staying calm, always leads to better decisions being made. The best way to maintain a "calm" state is to do your best to look at your business from a completely detached view.
Having a talk with myself or anyone else well-reviewed on Clarity can bring needed perspective, but some people can achieve the same analysis on their own.
Questions you should be asking yourself:
1) What evidence do I have that I'm building something others need? Was I expecting to have more evidence than I currently have? If so, do I trust that I know how I can obtain this evidence within the next 30 days?
2) Do I have credible options to fund what remains to be completed to get real customers (not my friends or associates) to use the product and give feedback?
3) Are others working on this project with me willing to make the necessary sacrifices (deferring payment) to get us to the point where we can test with real customers/
If you're not scoring at least 2/3 with confidence, you should reach out to me or someone else on Clarity.
Answered 8 years ago