Canadian wrote:
hedgefund wrote:
With your price point and tunnel data...you should be easily be able to get VC capital to mass produce wheels and get yourself on the map. You are significantly curtailing your progress by doing it this way.
We have increased production by 2-3 times this year. Last year we sold 1500 wheels which means we could sell between 3000-4500 wheels this year. Growth at this stage of the game is a fine balance between being aggressive and wise. Being too agressive could result in a warehouse full of products we can't sell at the end of the year. That's a position a new company does not want to be in.
We've had a dozen or more offers for VC capital but we have turned them down. Our reasoning is we are on track to grow 2-3 times this year while maintaining 100% ownership in our business. In my opinion, that's a position a new company does want to be in.
I hope that makes sense,
If you are patient and know the market will still be there in the foreseeable future that is the best way to do it. When I started out I actually had service orders before I even had the equipment or materials. Shoot, I didn't even have my business license or insurance yet. It worked for Eli Whitney, and it worked for me.
I will say, however, that about 5 months ago I was wanting some new race wheels. I would have bough FLOs, but I was too impatient to wait for the next pre-order and bought a $1600 camera, some lenses and a new bike instead. Now I'm out of money and can't buy new wheels.
I'll tell you what though, I did develop a new automated product photography 360 degree imaging system, and I would be more than happy to take some high quality pictures of the wheels if you send me a pair ;)