DailyQ #29: How did you find funding for your business?
How did you find funding for your business? Troy Hoffman reflects on bootstrapping his company during it's early startup years. No venture capital was necessary. Growth spouted through continuous struggle and commitment.
A series of events put us in a great position to launch. Selling my house, savings and family loans provided the necessary capital. We would repeatedly borrow from family & friends and return their loan with 10% interest. After a year, still broke, we continued to grind working for free. Not until year three did money begin flowing in.
Starting a business takes every dollar you have.
Offices, servers, phone systems, technology, hiring developers, we poured everything in to float the business. Despite the penniless struggle, we remained focused on building an amazing product from day one. That diligence 12 years ago put us in the amazing place we are today.
What level of investment and sacrifice are you willing to offer to make your dream a reality?
Now go and live your destiny!
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