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Fred Wilson Quotes

American - Businessman | August 20, 1961 -

Customers are a great way to finance a business for many reasons. First, customer financing is typically non dilutive. They want something from you other than equity in your business. Customers also help you fit your product to the market. And customers will help debug and improve the quality of the product.

Business Great Quality Finance Help

The most common way customer financing is done is you sell the customer on the product before you've built it or before you've finished it. The customer puts up the money to build the product or finish the product and becomes your first customer. Usually the customer simply wants the product and nothing more.

Money Customer You Done Build Way

Equity capital is expensive. Every time you do a raise, you dilute.

Time You Equity Expensive Raise

Facebook, Twitter, and Tumblr are all 'User First, Brands Second' services. The brands are all over these services now. But for the most part, these services didn't do much to bring them. The engaged users did.

Now First Over Bring Facebook Most

There are so many startups out there raising money. I don't think this is a bad thing. It's a good thing. Entrepreneurship is in vogue. Innovators are innovating. Makers are making.

Good Money Think Bad Out Vogue

Being an entrepreneur is hard. Having supportive and caring investors helps.

Caring Entrepreneur Hard Being Helps

Skyping with your spouse works well enough, but apparently it is hard to get the kids to hang out on Skype for long.

Enough Long Hard Skype Out Hang

When my dad was in Vietnam, we lost a parent for a year. Thank God we didn't lose a parent for good.

Good God Thank God Parent Year Lose

Not only do you have to put yourself in harms way in service of your country, you have to leave your families at home. It is a great sacrifice.

Home Great Service Yourself You Way

Startups are rapidly changing systems. If you use an annual review cycle, you aren't getting feedback at the same pace that you need to adapt and change the business.

Change Business Feedback You Adapt

Investing in management means building communication systems, business processes, feedback, and routines that let you scale the business and team as efficiently as possible.

Communication Business Team Building

If you are successful, you will be cloned. That's life. In fact, it's a sign that you've made it when clones of your website, mobile app, and business start cropping up.

Life Business Start You Website Up

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