mastermind
PARKED
- Joined
- Aug 1, 2014
- Messages
- 2
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Hello, I am new to the fast lane forum and I've been accepted on the day I finished my business plan for a start-up project I've been working on for 3 months now.
The project is very profitable and barely risky(I can get equity funding). The only problem I have is that I have 0 resources, no capital whatsoever.
Now debt is not an option as I have no collateral and I am stuck because I cannot start a company without having shares in it(or owning anything, in other words). Again, acquiring equity funds is not a problem so simply, I have everything but I cannot position myself in midst of it all.
Did anyone face the same problem before? If so, what did he/she do? I'm not sure I explained the problem well so feel free to ask me questions.
*Edit* I read that I should "Bootstrap until you have real customer validation and real traction" but my project deals with meat (necessary commodity) and I want to remain in control of my company in case of equity funding. This allows for very little room for expansion, am I correct?
The project is very profitable and barely risky(I can get equity funding). The only problem I have is that I have 0 resources, no capital whatsoever.
Now debt is not an option as I have no collateral and I am stuck because I cannot start a company without having shares in it(or owning anything, in other words). Again, acquiring equity funds is not a problem so simply, I have everything but I cannot position myself in midst of it all.
Did anyone face the same problem before? If so, what did he/she do? I'm not sure I explained the problem well so feel free to ask me questions.
*Edit* I read that I should "Bootstrap until you have real customer validation and real traction" but my project deals with meat (necessary commodity) and I want to remain in control of my company in case of equity funding. This allows for very little room for expansion, am I correct?
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