My business plan is ready; everyone loves my product; I am making progress, but slowly and I run out of money. NOW WHAT?

diego uribe I am the founder of Soccratis LLC

December 23rd, 2016

I created a business Soccratis LL an online meeting place for soccer coaches an players to connect and work together. Coaches are signing up and friends tell me the product is great. It is the Uber of soccer coaching. But I run out of money and I need to continue building the website and develop my marketing strategy. NOW WHAT?

Alejandro Cremades Author of The Art of Startup Fundraising & Serial Entrepreneur

December 26th, 2016

Marketplaces are like launching two companies at the same time. What I would do is bootstrap the company‘s growth for as much as you can. Perhaps until you are able to support yourself. Until then keep working on your 9 to 5 job. Once you can support yourself and you see month over month growth on revenue and new users then I would go for financing from outside investors (seed stage funding). If you want to take the leap of faith faster and go around the bootstrap phase then you may want to consider doing a friends and family round.