Figured the best first post I could put up would be the number one question I am asked; how did you get funded. Well I can’t post up the details but I can tell you that funding is an effect of hard work and developing a product and business. Not the other way around.
I think there are a few things I did before I started:
- Figured out my business, then my product.
- Quit my job and turned down job offers.
- Removed the fear of getting laughed at.
I don’t believe in luck and you shouldn’t either. Do yourself a favor and create a business based on something you love and know. Don’t do something that sounds popular. If you just want to be in the startup world and get some equity of a company, go work for one. Don’t start one.
Once you can get past this, start talking to everyone and find your niche. Mine is in audio distribution and technology, not necessarily hardware but more of how’s my mom going to listen to music in the next 5 years. One thing that helped my business is the fact that I didn’t die. We almost ran out of money a couple times, and the Livio radio almost got “unapproved” but we made it and kept on trucking. Getting rid of the fear and sticking to my passion got me from start to where I’m at.
We still have a huge way to go but even if the business closed tomorrow, I can say I’m proud of what I did and I put everything into it. I have no regrets on any of the decisions I’ve made, as they were the best ones with the information I had when the decision was made. This is what lets me sleep at night.