How to find money for development
Daniel
7 replies
Hey,
I have at least 4 customers ready to pay for the SaaS product I plan to integrate.
But now I'm faced with a major issue: the deployment of the servers, which is rather extensive. Just for servers, I'll need at least $10,000 every month.
My income does not allow me to pay $120,000 a year for server costs alone.
How can I get the funds to start building it right away?
Should I formally establish a "inc" business and incur debt?
Or maybe I should simply apply for grants.
or neither, or both.
The team is not presently interested in seeking investors, and I need money for investments quickly.
Thanks
Replies
Uday Patel@uday_patel4
Do you mind sharing what kind of servers are you running why the initial cost is 10k?
Share
What type of servers do you need for 10k?
If the startup cost is that big, then it might be better to start smaller.
@richard_gao2 we need at lest 100 VPS with different IP address. An an extremely fast Databases. When a customer send us their file we need to give them the results the same day we cannot afford to give them in one month.
@daniel112 Oh, I see. Good luck then
There's just some businesses are are not accessible to the average person. For example, manufacturing.
Though if this is really innovative, you could potentially get some investors on board with a really good business plan
Hello daniel, in general there are only two directions to solve the problem: reduce the cost or get more money .
for 1, to reduce the cost, is there cheaper ways for initial start? Is there solutions for startups, credits you can get?
for 2: some ideas for getting more money for you.
1) Customer wise: get their money, if they are deeply interested in your solution, ask them to pay a bit. And you can say: money can be refunded if the promised function can be be achieved.
2) ask for investment: get your customers' LOI and go to the investors.
3) get some grant or funding from your university or local govenment.
Try to thing all these comprehensively. Hope this will be helpful !
In fact, you just need to look for either additional sources of income, or investors. Investors can help you improve your financial situation. In general, I would usually say that projects like https://www.maxi-cash.com.my/how... could help you get short term money for projects. But your sum and plans are too big