Questions

How do you leverage your clients as funders for your business?

Needs tips on approaching current and potential clients about assisting your business by funding or investing in it.

3answers

Great question!

1) You can use "pre-selling" to offer an upcoming service or product to existing customers which they will effectively fund by paying for it (while you create it) so that they are also buy it as your customer: https://thefoundation.com/podcast/episode21 https://thefoundation.com/podcast/episode61

2) You can use a crowd funding platform like Kickstarter or IndieGogo.

3) You can ask customers if they'd like to become an investor in your business and offer them to become more like a partner with benefits and compelling reasons to join you.

4) You can ask customers directly what it would take or would interest them in becoming your investor.

Hope that helps!

Tom


Answered 2 years ago

Guess you have considered asking them to prepay. Depending on number of customer you have and monthly amounts, offering an enticing yearly prepaid option can help you raise some cash.

Have you thought about providers better than clients for direct funding?. If you work closely with a provider who understands your business and has a stake in your success, then they can be better positioned than customers to help you out.

Best,

Pere


Answered 2 years ago

You should keep them informed about the day to day growth and depict a rosy picture of your future. Soon they will develop interest in your startup. Wait for the opportunity to pitch, don't be proactive.


Answered a year ago

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