Friday, June 27, 2008

Funding: The illusion most companies fall for.

Most small companies lose sight of designing products and focus on sourcing funds.

I meet quite a number of so called "entrepreneurs" or at least they call themselves that, who are waiting for finance to start their business. Shouldn't a business start first, slowly fund its projects and then source funds to expand?

Questions to ask to rid yourself of the illusion:

1. Do I have a product?
2. Have we stoppped creating and are now waiting for finance?
3. Is there something a client can get from us?

Design a product or service people can buy and slowly fund yoiurself.

Afterall I don't work at a funding institution. . . .
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