Myth-busting business models: the old is new again
Look to customers rather than investors to validate your business model and offering.
There’s a myth among start-up communities that the best way to launch a venture is to come up with a smashing idea, write a slick business plan, present to venture capital firms (VCs) and then collect the money and get rich. And if things don’t go your way, it’s game over. But nothing could be further from the truth.
Most successful businesses don’t take investments from VCs or angel investors, and even fewer do so in the early stages. They grow by choosing the right business model and offering a product or service that generates enough cashflow to cover operations and early-stage growth. It’s the customer-funded business model. It’s not new, it’s just under-represented in today’s start-up culture. This programme changes all that.