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.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/community/startup-therapyWebsitehttps://www.startups.com/beginLinkedIn https://www.linkedin.com/company/startups-co/Join our Network of Top Founders Wil Schroterhttps://www.linkedin.com/in/wilschroter/Ryan Rutanhttps://www.linkedin.com/in/ryan-rutan/What to listen for:|00:51 The Broken Assumption About Funding01:29 Generating Revenue Before the Product02:39 Examples of Early Revenue Generation03:07 The Zappos Story: Validating Demand08:06 Personal Anecdotes on Testing Demand10:27 The Importance of a Minimum Viable Product18:39 Service-Based Proxies for Products21:21 The Unexpected Success of Pitch Deck Services22:04 Assumptions About Entrepreneurs and Investors23:48 The Role of Services in Startup Success25:33 The Importance of Revenue and Profitability28:53 Creative Ways to Fund Your Startup34:10 The Value of Bootstrapping and Hustle

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