No money, no business?
Advice from David Parent and Other Entrepreneurs
It is possible to create a company without having a lot of funds at the start. But according to the entrepreneurs interviewed for our web series, you will need to prove you have the conviction, ambition and perseverance it takes. That accomplished, there are many funding sources available.
David Parent of PixMob emphasizes that financing could also come from existing clients—you just need to sell them on your idea and vision for the company.
« If you are able to find an idea that someone is willing to advance you money for, even before you have delivered your product, you will be able to finance your activities. That's what we did at each of our major growth stages: Deposits by our clients are what allowed us to develop our business. »
Audry Larocque, a serial investor and entrepreneur, was able to count on his network (“love money”) to launch his first business along with his partners.
« We were each given the challenge of raising $5,000. Most of us asked our parents. The amount we accumulated was our initial investment. »