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In the early 1980s, entrepreneur Michael Dell began selling computers from his bedroom, but he did not<\/span><\/p>\n sell any of them before receiving payment upfront. He later raised $18,000 by selling subscriptions to customers,<\/span><\/p>\n a prominent example of customer-funded business\u2014the type of financing John Mullins explores in his book: <\/span><\/p>\n *The Customer-Funded Business*.<\/span><\/p>\n From the outset, Michael Dell understood that raising venture capital (VC) is not the only option <\/span><\/p>\n to secure funding. There\u2019s a smarter alternative: customer financing\u2014getting financial support and funding <\/span><\/p>\n directly from customers.<\/span><\/p>\n But don\u2019t think Dell was the only company to use this approach to secure support and funding. Other major companies<\/span><\/p>\n started this way, including Airbnb and Banana Republic.<\/span><\/p>\n .<\/p>\n \u0627\u0642\u0631\u0623 \u0627\u064a\u0636\u0627\u064b:How Did Two Civil Engineers Become the Youngest Millionaires in the Philippines?<\/a><\/p>\n .<\/p>\n If an entrepreneur decides to pursue customer funding\u2014seeking financing and support from existing or <\/span><\/p>\n potential customers and consumers\u2014they should understand that it is neither easy nor inexpensive. While this is a smart and innovative approach, it is not right for every company <\/span><\/p>\n or every product.<\/span><\/p>\n Only a strong, compelling, distinctive product that fills a genuine gap in the market can bring customers to you and attract them, <\/span><\/p>\n not just to use your product, but also to fund your business and contribute money.<\/span><\/p>\n So, the product needs to be compelling, make a real difference, and offer added value to customers so they\u2019re willing to pay some <\/span><\/p>\n of the money upfront, or pay the full price before receiving the product.<\/span><\/p>\n .<\/p>\n But customer financing offers another advantage: the focus is not on investors and venture capitalists to<\/span><\/p>\n attract them to fund and financially support the company. Instead, the focus is on the product itself, which means the company benefits in<\/span><\/p>\n two ways. First, it is motivated to deliver a high-quality, distinctive product, giving it a strong chance of outperforming competitors. Second, it can <\/span><\/p>\n encourage those same customers to support and fund the company.<\/span><\/p>\n Throughout this process, the company can not only attract new customers, but also turn its customers into loyal, long-term users. What would make them leave <\/span><\/p>\n or stop using its products, as long as the company is consistently and systematically working to improve and refine them?<\/span><\/p>\n .<\/p>\nA Strong Product and Customer Funding<\/span><\/strong><\/h3>\n
A Unique Marketing Advantage<\/span><\/strong><\/h3>\n
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