Summary: The Customer-Funded Business Start, Finance, Or Grow Your Company With Your Customers' Cash | John Mullins
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Read the summary and the most important questions on The Customer-Funded Business Start, Finance, or Grow Your Company with Your Customers' Cash | John Mullins
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1 Craving Crowdfunding? Pandering to VCs? Groveling to your CFO?: The Magic of Traction and the Customer-Funded Revolution
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What are the five customer-funded models the book highlights?
1. Matchmaker
2. Service-to-Product
3. Pay-in-Advance
4. Subscription
5. Scarcity -
Which six benefits are there that stipulate the essence of customer-funding?
1. A paying customer makes a business, raising capital does not.
2. Winning customers gives them too a reason for you to succeed.
3. Modest amounts of cash enforce frugality, rather than waste.
4. Increases likelyhood to get capital and will improve their returns.
5. Forces faster pivots.
6. Generates Freedom -
What are examples of Matchmaker Models?
Expedia.com; Booking.com; Ebay.com; AirBnB -
What are examples of Pay-in-Advance Models?
Dell; Architects; Via.com; CheapTickets.com; Threadless; The Loot; Banana Republic -
What are examples of Subscription Models?
Wall Street Journal; Tutor Vista; H.Bloom; Netflix; Showtime -
What are examples of Scarcity-based Models?
Zara; Vente Privee; Lot18; Gilt Groupe -
What are examples of Service-to-product Models?
Microsoft; MapmyIndia; Rocksolid technologies; GoViral -
What are drawbacks of attempting to raise capital too early?
Distraction, Pitching vs Proving, Risk, Baggage of terms & conditions, Difficulty -
What is the name of the author of the book?
John Mullins -
2 Customer-Funded Models: Mirage or Mind-Set? Old or New?
This is a preview. There are 8 more flashcards available for chapter 2
Show more cards here -
What was unique about the Customer-Funded Model Michael Dell used?
He had no up-front investment costs, by having customers pay-in-advance and buying components only when an order was received he created a unique advantage to its competitors: no inventory.
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