Steve Benson
๐ค SpeakerAppearances Over Time
Podcast Appearances
large company to give you $300,000 when you're like four Joker guys.
And we were working out of the back of a dentist's office at the time.
We didn't tell them that, but, uh, we, so the, the, the key there, um, we, we gave up a really interesting term that, uh, that they, that they took and, and,
What that was, was I traded for paying three years up front.
It was like $308,000 or something.
I traded away.
I promised not to sell the product to their two biggest competitors for that three-year period, which they really liked.
They thought that was really cool.
They thought this was a competitive advantage.
And they were like, yeah, these guys...
And they understood, they actually, they knew that we were like four guys.
They, they, they knew, they understood the risks and they, and they were, they were okay with it, given that they could keep this away from their competitors for three years.
And, and so that's, that deal basically floated the first, you know, three quarters of 2015.
And then revenues had caught up to, to what we, what our costs were.
And then, you know, the next time we made an extra five grand a month, we could hire somebody.
So that is,
Our first financing was from customers.
So here's our debt history, and I think the, if I wanted to zoom out and offer a takeaway, it's that you gotta shop this stuff around, right?
You gotta dive deep, and that, if anything with debt, I shopped it around a ton and figured out who are the players, where do they fit?
I should've made a slide about this, with who all the players are, but