It felt like the chain had just come off of my bike, but I was still trying to peddle. Only in this case, my bike was my brain.
The music was still pounding from the start-up Christmas party two floors above, and I felt like I couldn't get a single word out, as I was being told about a world changing technology. Questions and words would flash into my head, and disappear by the time I opened my mouth to answer.
I felt out of control, and like I was 12 years old.
Eventually I got my chain back on the gears, and I had an intense conversation about a revolutionary technology that would enable the entire human race to advance. Indeed, UN officials had already evaluated it and determined it would help the world reach every one of their development goals for humanity.
Was it any wonder why my brain skipped a step?
The technology he had developed was incredible. It would be a platform that thousands of projects could ride on, and nearly every industry in the world would benefit from. It would change how humanity looked at itself. And it would do it from space.
But what floored me was what came next. Ending our conversation late into the night, my girlfriend and I asked, "What can we do for you?".
Bryan's reply was a simple request. "In about 2 years, I'm going to need to raise $20,000,000 in order to launch this project into space".
Later the next day, I couldn't stop obsessing over the thoughts I had about how to solve this man's problem. This wasn't the first time I obsessed like this.
My girlfriend (@ArisCreates) suggested I do a 30 day challenge. Create 1 post every day for the next 30 days, and post it to SteemIt. So, let's call it the 30 Day Steem It Challenge.
Over the next 30 days, I'll take a little bit to use creative problem solving to come up with at least 10 ideas on how to solve a problem. What problems will I be trying to solve? That's going to be up to you. Leave a comment with the problem you want me to take a crack at in my next post.
So, here's 10 ways to approach the fundraising dilemma.
#1 - ICO
I honestly don't know what is involved in running an ICO, but I have friends that do.
Initial Coin Offerings can be used as an alternative to venture capital or seeking investment through an investment bank (Or investment broker), but is more similar to an Initial Public Offering, but with out the regulatory hassle.
With FileCoin and Tezos reaching over $200,000,000 USD in their ICOs, this is definitely a viable option for world changing tech, or an even better block-chain based mouse trap.
#2 - Consumer Speculation (AKA "Crowd Funding")
Several years ago this would have been seen as crazy as ICOs do today to many people, but it's been firmly established as a way to generate the funds required to take a minimum viable product(MVP) to market.
With Star Citizen raising over $172,867,942 via Kickstarter and the creator's own website.
#3 - Venture Capital and Angel Investors
The funding of choice for most start-ups, VC funding can be complicated and costly, but usually comes with the help of a highly knowledgable and skilled investors who are looking to help your project succeed.
#4 - MVP Sales
For companies that can build a quick minimum viable product, and ship it to new customers, this can be the lowest cost (though most nerve racking and intense) way to raise capital.
Sites like Groupon.com could have been built by a skeleton team and launched as an MVP to generate revenue . The founder later stating that he could have built Groupon for $50,000 and regretted accepting $1,000,000 in funding for his idea. Groupon was launched in November 2008, and was valued at $1 Billion just 16 months later.
#5 - Alternative Silo Products
I have a friend who was waiting to launch her project. It would have been truly revolutionary at the time, and she needed substantial capital. We're only getting back to this idea now, with SpaceX pursuing a low earth orbit satellite network.
However, Instead of raising seed money for her project, She brought together the team she needed, and the team built the infrastructure and technology for a new produce being launched by a financial giant. She was able to take take the funds from the development project, and use them to begin testing her new business.
#6 - Initial Public Offerings
When Tesla was in a serious bind Elon Musk and the executive team took the company public to raise $226,100,000 to keep his company alive.
#7 - Getting A First Customer
From my Internet Marketing background, this is something I've done quite often. In some industries, $20,000,000 is a penance. In this case, selling a single major client on your product could provide all of the funding you need, provided you can deliver the goods.
#8 - Government Grants
If you really have something that's world changing, or might just help boost the economy, take a look into Grants.
Not the most talked about funding option, but the US Federal Goverment spends over $500 BILLION (With a B) on grants each year, making it the #3 line item, after Social Security and the Department of Defense.
#9 - No Funding And Crowdsourcing
Sometimes massively ambitious projects can be started and brought to life not by a major organization, but by a group of brilliant, dedicated volunteers. Looking at projects like Linux shows that it's not necessarily funding that you need, but the talent to make it possible.
#10 - Collaboration and Trade
Sometimes you don't need what you think you need. If someone tells me they need $1,000,000, my next question is generally "What will that get you?". Money is after all a medium of exchange.
With alternatives to typical capital raising channels popping up all over the place, and more and more companies and industry organizations looking to stay ahead of the innovation curve, collaborating with companies for the resources and possibly talent that will bring your vision to life might be a viable option.
My girlfriend (@ArisCreates) suggested I do a 30 day challenge. Create 1 post every day for the next 30 days, and post it to SteemIt. So, let's call it the 30 Day Steem It Challenge.
Over the next 30 days, I'll take a little bit to use creative problem solving to come up with at least 10 ideas on how to solve a problem. What problems will I be trying to solve? That's going to be up to you. Leave a comment with the problem you want me to take a crack at in my next post.
Feel free to follow my posts at https://steemit.com/steemitchallenge and by following me here.