Startup funding and valuation generate significant coverage and conversation. And a lot has been written about the positives and negatives of various sources of funding - angels, VCs, friends & family.
So what is the best source of funds for your business?
Our learning - your customer's money. If it is the ONLY money you have accessed to build your business -nothing like it! Too often, businesses focus sequentially on - making a business plan, then raising funds, updating the plan, and then looking for customers. Instead, invert the process - look for customers, validate/ update your plan, reach break-even, and then consider funding growth. Making money is essential to learning how to spend it well - and should precede it.
The typical investor loves and hates such businesses. He loves them because they make money. He hates them because they (often) don't need money. And as far as the entrepreneur is concerned, it is far better to want money, than to need it.
Why the Blog
As we grow Lattice, we would like to share our lessons in product design & development, building a company, and the healthcare space. We hope it presents you with some interesting ideas, and starts off useful debates.