I previously co-founded a startup that failed mostly due to an unfit market. We were in college with relatively low costs of living. We always assumed we’d need funding later on but were doing fine in the meantime with the few customers we had and the freelance work I was doing on the side.
Now I’ve moved on to a full-time gig and have accumulated a lot of post graduate debt. Most notably student loans, rent, car payment, and other living expenses. That hasn’t stopped me from my passion for startups. In fact, I’m more passionate about working for myself now more than ever.
I recently started working on an idea that would generate revenue from day one. But of course not enough to pay my bills or hire any employees.
My question is: if I’m looking to personally stay afloat, hire employees, and expand my marketing, do I require funding? Are those things startups typically seek funding for?