Join us for this presentation by business expert John Mullins on his new book, The Customer-Funded Business:
"More than two generations ago, the venture capital community – VCs, business angels, incubators and others – convinced the entrepreneurial world that writing business plans and raising venture capital constituted the twin centerpieces of entrepreneurial endeavor. They did so for good reasons: the sometimes astonishing returns they’ve delivered to their investors and the astonishingly large companies that their ecosystem has created. But the vast majority of fast-growing companies never take any venture capital.
So where does the money come from to start and grow their companies? From a much more agreeable and hospitable source, their customers. That’s exactly what Michael Dell, Bill Gates and Banana Republic’s Mel and Patricia Ziegler did to get their companies up and running and turn them into iconic brands. In The Customer-Funded Business, John Mullins identifies five novel approaches that scrappy and innovative 21st century entrepreneurs have ingeniously adapted from their predecessors like Dell, Gates, and the Zieglers:
• Matchmaker models (for example, the US companies Airbnb and DogVacay)
• Pay-in-advance models (the USA’s Threadless, and India’s Via and Loot)
• Subscription models (India’s TutorVista, the USA’s H.Bloom)
• Scarcity models (France’s Vente Privée, the USA’s Gilt Groupe)
• Service-to-product models (Denmark’s GoViral, Puerto Rico’s Rock Solid)
Through the captivating stories of these and other companies from around the world, Mullins brings to life the five models and identifies the questions that angel or other investors will - and should! - ask, and he addresses the key implementation issues that characterize each of the models: when to apply them, how best to apply them, and the pitfalls to watch out for.
Whether you’re an aspiring entrepreneur lacking the start-up capital you need, an early-stage entrepreneur trying to get your cash-starved venture into take-off mode, a corporate leader seeking to grow an established company, or an angel investor, mentor, or business accelerator or incubator professional who supports high-potential entrepreneurial ventures, this book offers the most sure-footed path to starting, financing, or growing your business."
John Mullins is the author of two business best-sellers targeted at entrepreneurs and business angels: the definitive book on assessing entrepreneurial opportunities The New Business Road Test, and with Randy Komisar, the widely acclaimed Getting to Plan B. He is a two-time entrepreneur and an Associate Professor of Management Practice at London Business School.