In this episode, Ryan and Will discuss the common misconception that startups need funding before generating revenue. They emphasize that the actual business isn't just the product but the revenue it generates. The discussion covers various strategies to bootstrap and generate cash flow, including building a minimal viable product, offering related services, and even taking on side gigs or unconventional methods to bring in money. By doing so, startups can extend their runway and better validate their business model before seeking significant investment. The episode includes examples from famous startups like Zappos and Airbnb to illustrate these points.

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Wil Schroter
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Ryan Rutan
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What to listen for:|
00:51 The Broken Assumption About Funding
01:29 Generating Revenue Before the Product
02:39 Examples of Early Revenue Generation
03:07 The Zappos Story: Validating Demand
08:06 Personal Anecdotes on Testing Demand
10:27 The Importance of a Minimum Viable Product
18:39 Service-Based Proxies for Products
21:21 The Unexpected Success of Pitch Deck Services
22:04 Assumptions About Entrepreneurs and Investors
23:48 The Role of Services in Startup Success
25:33 The Importance of Revenue and Profitability
28:53 Creative Ways to Fund Your Startup
34:10 The Value of Bootstrapping and Hustle