Discover millions of ebooks, audiobooks, and so much more with a free trial

Only $11.99/month after trial. Cancel anytime.

The Customer-Funded Business (Review and Analysis of Mullins' Book)
The Customer-Funded Business (Review and Analysis of Mullins' Book)
The Customer-Funded Business (Review and Analysis of Mullins' Book)
Ebook39 pages29 minutes

The Customer-Funded Business (Review and Analysis of Mullins' Book)

Rating: 4.5 out of 5 stars

4.5/5

()

Read preview

About this ebook

The must-read summary of John Mullins' book: "The Customer-Funded Business: Start, Finance, or Grow Your Company with Your Customers’ Cash".

This complete summary of the ideas from John Mullins' book "The Customer-Funded Business” tells you to forget about the complicated methods of securing start-up funding. According to Mullins, the best way of getting the funding is from your future customers. If you can find enough customers who will pay for the solution that you’re offering to their problem, this is the perfect way of starting a customer-funded business.

There are five different customer-funded business models:
1. Matchmaker
2. Pay-in-advance
3. Subscription
4. Security/Flash sales
5. Service-to-product

This summary will take you through all five of these different business models, giving you all the information you need to decide which approach will work best for you. 

Added-value of this summary:
• Save time
• Stop applying for start-up funding and get the money from your future customers
• Find out which customer-funded business model is right for your business

To learn more, read “The Customer-Funded Business” and find out how you can secure start-up funding from your customers!
LanguageEnglish
Release dateJul 1, 2015
ISBN9782511036082
The Customer-Funded Business (Review and Analysis of Mullins' Book)

Read more from Business News Publishing

Related to The Customer-Funded Business (Review and Analysis of Mullins' Book)

Related ebooks

Small Business & Entrepreneurs For You

View More

Related articles

Reviews for The Customer-Funded Business (Review and Analysis of Mullins' Book)

Rating: 4.5 out of 5 stars
4.5/5

2 ratings0 reviews

What did you think?

Tap to rate

Review must be at least 10 words

    Book preview

    The Customer-Funded Business (Review and Analysis of Mullins' Book) - BusinessNews Publishing

    Book Presentation: The Customer-Funded Business by John Mullins

    Summary of The Customer-Funded Business (John Mullins)

    Book Abstract

    Since time immemorial, the accepted approach to securing start-up funding has generally been:

    Come up with a great idea

    Write a business plan

    Raise some venture capital

    Get rich!

    That's all well and good but the odds of getting funded that way are not that great. Out of the 5 million ventures which seek startup funding each year in the United States alone, only about 1,500 will get funded by venture capitalists and another 50,000 will be funded by angel or other investors. Seeking start-up funding the conventional way is hard work.

    A much better approach is to forget about securing venture capital entirely and instead get your future customers to fund your startup. If you can find enough customers who will pay you good money (ideally in advance) for the solution to their problems you're in the process of creating, then you won't need to raise capital anywhere else.

    There are in fact five viable customer-funded business models you can use:

    Matchmaker Pay-in advance

    Pay-in-advance

    Subscription

    Scarcity/ Flash sales

    Service-to-product

    To get start-up funding, don't go looking for investors. Find a pool of customers who want what you plan on selling and get them to fund you. It's a much better way to go.

    The best money comes from customers, not investors. Selling a product or service early in the life of a company provides great feedback and the cash needed to refine the idea.

    - Bill Sahlman, Harvard Business School

    About the Author

    JOHN MULLINS is associate professor of management practice, marketing and entrepreneurship at the London School of Business. He is also

    Enjoying the preview?
    Page 1 of 1