Questions

The loan will pay for the rest of software I'm building that will automate the deployment of my SaaS platform. This cuts my development time for each new client down by 95% - making me scalable. In a few months I will have it in my hands ready to open up my marketing activity now that I can deliver much more rapidly. It's tempting to use some loan money for marketing activity. Full disclosure, I don't know how to approach marketing yet.

Take the money. But, try to look at this as short-term/current financing which basically means that you should pay it off within a year. You probably will not, but make that your goal.

Secondly, during this year focus on Long Term financing through other investing in your business. Replace the short-term financing with the long term money if you can get enough of it, but be clear with your investors about your intentions.

Best of Luck,
Mike
From the Trenches to the Towers Marketing


Answered 8 years ago

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