Most ventures are started on entrepreneur's personal savings and credit card debt. VC funding comes in only after there are revenue numbers to show.
Ditch the Biz Plan, Buy a Lottery Ticket: "Where did successful companies’ founders get their financing from? Seventy percent used personal savings, 15% took bank loans (probably on their credit cards), and 14% relied on friends and family. (Note: they typically use more than one source for financing.)
The way the system works is that if you build something of value, the money will find you. Yes, there is a catch-22: you need seed financing, but no one will give you a cent until you have a marketable product and your company is producing revenue—which means that you don’t really need the money. But that’s the way it goes. Ironically, raising millions of dollars is usually easier than raising thousands."
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