D
Deleted50669
Guest
All,
I recently encountered a hiccup in my product development process: lack of funding!
It's a common challenge when bootstrapping product development (that is, not seeking outside investment). Nonetheless, it can cause delays when the cash gets tight, particularly when some of the elements being developed are outsourced (which is my case).
So, how am I dealing with this?
By taking a dangerous gamble.
I just liquidated my 401K from my last employer as a means to fund the rest of the outsourced work.
Risky? Yes.
Ill-advised? Uh huh.
Scary? Yup.
However, what scares me more is not being able to make progress. The faster this little piggy gets to market, the faster this little piggy can assess and adjust. So I am accepting the long-term risk for potential short-term gain.
Progress can't happen if we don't take chances on ourselves, whether it be time, money, or otherwise. I am learning to increase my risk tolerance as time goes, and this is an intense exercise in betting on myself. If I end up living in a wheel-barrel 30 years from now, I can live in my wheel-barrel with dignity.
- Cheers
I recently encountered a hiccup in my product development process: lack of funding!
It's a common challenge when bootstrapping product development (that is, not seeking outside investment). Nonetheless, it can cause delays when the cash gets tight, particularly when some of the elements being developed are outsourced (which is my case).
So, how am I dealing with this?
By taking a dangerous gamble.
I just liquidated my 401K from my last employer as a means to fund the rest of the outsourced work.
Risky? Yes.
Ill-advised? Uh huh.
Scary? Yup.
However, what scares me more is not being able to make progress. The faster this little piggy gets to market, the faster this little piggy can assess and adjust. So I am accepting the long-term risk for potential short-term gain.
Progress can't happen if we don't take chances on ourselves, whether it be time, money, or otherwise. I am learning to increase my risk tolerance as time goes, and this is an intense exercise in betting on myself. If I end up living in a wheel-barrel 30 years from now, I can live in my wheel-barrel with dignity.
- Cheers
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
