The Customer kindle ß

text The Customer

The Customer kindle ß ✓ ❮Read❯ ➵ The Customer-Funded Business: Start, Finance, or Grow Your Company with Your Customers' Cash Author John Mullins SC – Who needs investors? More than two generations ago the venture capital community VCs business angels incubators and others convinced the entrepreneurial world that Who needs investors? More than two generations ago the venture capital community VCs business angels incubators and others convinced the entrepreneurial world that writing business plans and raising venture capital constituted the twin centerpieces of entrepreneurial endeavor They did so for good reasons the sometimes astonishing returns they've delivered to their investors and the astonishingly large companies that their ecosystem has created But the vast majority of fast growing companies never take any venture capital So where does the money come from to start and grow their companies? From a muchagreeable and hospitable source their customers That's exactly what Michael Dell Bill Gates and Banana Republic's Mel and Patricia Ziegler did to get their c John has done it again A book that I can relate to I a middle class aspiring Entrepreneur who is NOT living in Silicon ValleyThe sexy model I see people following in the startup space is get an idea do a three months lean startup get seed funded or join a startup accelerator and then look for series A I see my Lean startup friends talking about number of visitors to their website number of downloads of their apps amount of money they have raised etc Everyone is out there to become the next facebook sign up the whole world go viral and then figure out a way to make money John Muller suggests a different model through this book get an idea find a customer invest just enough in your business to win the first customer scale based upon your customer's experience bootstrap for as long as you can then look for investment to accelerate your growthJohn's books my first one was The New Business Road Test What entrepreneurs and executives should do before launching a lean start up 4th Edition Financial Times Series talks about Entrepreneurship for people who neither have an Ivy League education nor do they live in Silicon Valley where ideas perhaps get funded This book presents the magic masala behind many Entrepreneurs outside the valley specially in India And that magic turns out to be the Entrepreneur's ability to somehow bootstrap their business from their customer's money Being of Indian origin I can vouch for the fact that such a strategy of using customer's money to bootstrap if the ONLY way to start a company in India and perhaps for most places outside the USMany thanks to John and hope to read from him in the future

epub ✓ Funded Business ï John Mullins SC

Depth interviews with entrepreneurs and investors who have actually put these models to use Mullins goes on to address the key implementation issues that characterize each of the models when to apply them how best to apply them and the pitfalls to watch out for Whether you're an aspiring entrepreneur lacking the start up capital you need an early stage entrepreneur trying to get your cash starved venture into take off mode an intrapreneur seeking funding within an established company or an angel investor or mentor who supports high potential ventures this book offers the most sure footed path to starting financing or growing your venture John Mullins is the author of The New Business Road Test and with Randy Komisar the widely acclaimed Getting to Plan I've read both The Customer Funded Business and John's other book Getting to Plan B I loved them both and gained great insights and the needed inspiration to make changes I read Getting to Plan B when my business was small about 2M in sales It provided a philosophy of thinking that allowed us to grow with our hard work by over 20% annually for the last ten years During that time we radically changed how we earn our income and so much of our product mix I grabbed this book as I was preparing for another round of growth It has kept me from doing something I have been fearful of reaching out to private euity for funding While the speed of growth might be a bit slower I am much committed to building a great company than building a big company

John Mullins SC ï ebook

The Customer Funded Business Start Finance or Grow Your Company with Your Customers' CashOmpanies up and running and turn them into iconic brands In The Customer Funded Business best selling author John Mullins uncovers five novel approaches that scrappy and innovative 21st century entrepreneurs working in companies large and small have ingeniously adapted from their predecessors like Dell Gates and the ZieglersMatchmaker models Airbnb Pay in advance models Threadless Subscription models TutorVista Scarcity models Vente Privee Service to product models GoViral Through the captivating stories of these and other inspiring companies from around the world Mullins brings to life the five models and identifies the uestions that angel or other investors will and should ask of entrepreneurs or corporate innovators seeking to apply them Drawing on in Mullins describes 5 different models that companies have followed to launch using customer funds He gives examples of each mini case studies of firms you've heard about in most cases He shares why these models work why they may or may not work in other circumstances He then outlines what to look out for if you want to apply that model to your company or to a company you may be investing inToo many business books focus on a topic or a theme and then act as it if always works for everyone John Mullins tells both sides of the story and does a good job putting it in contextMy only uibble and it's a small one is that he sees customer funding as a prelude to raising euity investment and dismisses bootstrapping as a method for only small companies In my experience some companies go that route but many use customer funding as bootstrapping and don't always stay small but go on to create considerable wealthRegardless of the next phase of growth the details of these 5 models and when they work is a great thing for all entrepreneurs to know