Revenue First, Salaries Second
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In launching a startup, the first goal is to generate revenue.
Salaries come later and in some cases much later.
Some founders look to the startup as a source of income.
Fundraising from investors is not the answer to the salary question.
Investors will not fund a startup that can't generate enough revenue to prove the market wants it.
Fundraising comes into play when there's product and market validation.
The product works, and customers will pay for it.
Founders often take second jobs to pay their bills while the revenue ramps up.
Once revenue is established and growing, then salaries come into the picture. It's often the case that the second job becomes a part-time job.
Later, those part-time jobs will go away.
Building a startup is hard work.
Before launching, identify the path to revenue generation through an initial product.
Selling will be the primary goal of everyone on the team every day.
As a founder, consider how you can reduce your cost of living for a period of time while you ramp up the business.
Investors look for commitment in founders who can make this situation work.
It's tough, but it's doable.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
Let's go startup something today.
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