from Hacker News

Live in BFE and need funding advice

by subless on 3/18/13, 7:41 AM with 1 comments

Ok I'll make this short and to-the-point. I live in the south way out in the woods on the east coast. There are no big businesses here that are tech related. Most around here are cotton or textile mills. It just puzzled me how someone like myself that had a good idea and wanted to startup a company could do about getting funding since there is nothing like that around here. Most businesses here just go to the bank and get loans but I’m not for that. I’d rather not go into debt just to advance my life. Any opinions would be great thanks :)

by ky3 on 3/18/13, 8:48 AM
When you say you'd rather "not go into debt just to advance my life", isn't there an assumption that you'd probably not succeed with a bank loan?
Why would funding make that bottomline any different? Input from angels/VCs?
The stats against funded startups are appalling, even if you /are/ able to get big-name backers.
Losing years of your life learning painful lessons but nothing else to show afterward, is itself a kind of debt, no?
Over a decade ago, Don Lancaster wrote a book titled "Incredible Secret Money Machine" and aside from the off-putting title, the central thesis is still solid as a rock. It's a free PDF on his website.