TAG: Developers
Web Design and Cms Provider
TheFunded.com Discussion
Posted by Anonymous on 2010-06-14
Tags: Operations Developers Design
Outsourcing Developers
TheFunded.com Discussion
Posted by Anonymous on 2009-09-08
Tags: Operations Developers outsource
Finding a Great Developer/Partner
TheFunded.com Discussion
Posted by Anonymous on 2009-06-29
Tags: Operations Recruiting Developers
Advice on Programmers
TheFunded.com Discussion
Posted by Anonymous on 2009-06-15
Tags: Operations Developers
Tips for Finding Non Cheesy Tech Developers?
TheFunded.com Discussion
Posted by Anonymous on 2009-06-03
Tags: Operations Developers
Equity in Exchange for Website
TheFunded.com Discussion
Posted by Anonymous on 2008-12-02
Tags: Operations Developers Technology Barter
Launch Without Investors?
TheFunded.com Advice
Posted by Anonymous on 2008-07-29
Tags: Preparation Developers
After chasing VC's and Angels for about 18 months with no success, I found a way to launch my Company without either. Its called Purchase Order Financing or contract financing and it fits our Business Model perfectly. We offer a high margin consumer product sold through retail chain stores such as Lowes, Ace , etc. Thinking I needed a 1MM advertising budget to launch the product, I beat every bush twice trying to interest a VC or angel group and although I came close, I never got a term sheet.
Enter my now co-founder and VP Sales/Marketing with deep experience selling to chains who told me all we needed was some package advertrising and store displays. He met with some of his associates at a hardware convention and made some new contacts and within a week we had a nation-wide rep sales force. He also told me many former companies he had worked for often financed production of new products by using finace firms that specialize in contract financing (google Purchase Order Fianancing). They pay suppliers directly and as soon as you ship the goods the deal converts to a straight factoring situation and they send you a check for the difference between what you owe them and what you sold the goods for. We plan to use this option within the next 3 months.
Its a little expensive of course - 3%/month, but when your done, your done! No term sheets, no lawyers, no interest bearing notes, no new board members, etc. And when it comes time to give yourselves a bonus, guess what" Nobody to tell you haw much its got to be.
As luck would have it, we now have an angel group doing due diligence! I expect this is our Plan B but, in any case we can negotiate much better terms than we could have without the contract financing option that I have informed the angels we are also pursuing .
If your plan includes a short (90 day) delivery on a contract with a credit worthy customer, look at this possibility.