The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

EXECUTION Don't Try This At Home!

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

404profound

Platinum Contributor
I've Read UNSCRIPTED
Speedway Pass
Aug 27, 2017
1,340
2,763
662
Desert of Desertion
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
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Kid

Silver Contributor
Speedway Pass
Mar 1, 2016
756
625
278
Could you find some investor to offload need for cash? It seems that you have more to show then when you started (i assume).

Having own cash to invest might also show to investor that you are serious and take risk with him (like "i have idea, give me money" vs "i have idea and invest own cash into it".
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Here is where you eliminate uncertainty from the future! I wanted to post this image as I...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
TEOTWAWKI SALE!! The apocalypse is here and the end is near! Unstoppable viruses, corrupt...
  • Sticky
MARKETPLACE KAK’s “Kill Bigger” Incubation Program- With DAILY personal attention.
Hey Guys! I wanted to give a quick update on what this program has become. In its infancy, we...


Don't like ads? Remove them while supporting the forum. Subscribe to become an INSIDER.

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom
AdBlock Detected - Please Disable

Yes, ads can be annoying. But please...

...to support the Unscripted/Fastlane mission (and to respect the immense amount of time needed to manage this forum) please DISABLE your ad-block. Thank you.

I've Disabled AdBlock