Scaling Up Business Podcast

024: John Mullins - Your Customers Can Be Your VCs

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Synopsis

John Mullins is an award-winning teacher, author and scholar. John is an Associate Professor of Management Practice in Marketing and Entrepreneurship at the London Business School and is recognized as a thought leader in entrepreneurship. On this episode, John and I discuss customer-funded businesses and some of the novel ways business owners can fund their businesses. To begin the interview John and I discussed his most recent book, The Customer-Funded Business. the idea for this book began while writing a chapter in his first book, Getting to Plan B, about Costco's innovative business model. John knew there were a lot of interesting funding models like Costco's out there that worked, but for most entrepreneurs it seemed as though their go-to method to acquire funding was to simply find a VC. There are other ways! John discusses 5 different models so you can fund a business without using venture capital, family money, a bank, or an angel investor. The first way is to be a matchmaker, where you just brin