Nick Carter, the founder of AddressTwo is putting the finishing touches his new book: Unfunded. In it, he shares his experiences, challenges and success as a result of his decision to “go unfunded”, financing his software startup without venture capital. As the economy continues to sputter along, there is still a lack of venture capital and other would-be entrepreneurs would be wise to at least consider alternative funding to jump start their business.
Nick is not the only person endorsing this strategy. In a recent article, Scott Gerber writing for American Express asked a number of young entrepreneurs for their suggestions. The list included recommendations that prospective business owners look beyond angels and venture capitalists, approaching friends and family or making vendors partners in the business.
In addition to tips on looking for funding sources, several entrepreneurs encouraged others to scale their ideas back, making the funding requests smaller and more manageable. The bottom line? If you have an idea, don’t let the lack of funds hold you back. Get creative, and go unfunded!