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  • 1 year ago
EP054: John Mullins & The Customer-Funded Business

EP054: John Mullins & The Customer-Funded Business

Bestselling author of The Customer-Funded Business, and an Associate Professor of Management Practice at the London Business School, John Mullins, Ph.D. is a world-wide speaker and educator. Media outlets such as Harvard Business Review and MIT Sloan Management Review, regularly publish his articles. He describes the five approaches used by innovative entrepreneurs to fund their enterprises without the use of VC or angel investors.   Key Takeaways: [1:05] The big idea behind The Customer-Funded Business book. [3:30] The huge distraction which is raising capital. [6:57] Does Venture Capital funding ever make sense? [9:55] Three out of four VC-funded companies fail to return the capital that goes into them. [12:26] The pay-in-advance and subscription models allow entrepreneurs to collect a customer’s money before delivering the product. [16:54] The scarcity-based model uses a limited time offer to lure an immediate purchase. [23:49] The key to a successful service-to-product model is seg