In this episode of Fundraising Demystified, Melissa Kwan, co-founder and CEO of eWebinar, opens up about the realities of being in survival mode before finding her footing in the business world. She discusses the challenging circumstances that led her to make the bold decision to pivot from a product company to an agency model. Despite financial constraints, Melissa's resilience and determination ultimately paid off as her company discovered the ideal product-market fit, leading to profitability within a year.
Melissa discovered that success is not solely defined by raising external investment, but rather by the ability to maintain control over critical business decisions. She shares valuable insights on how steering clear of venture capital allowed her to align her business with her personal definition of success, empowering her to live a fulfilling and sustainable entrepreneurial life.
Tune in to this inspiring episode as Melissa encourages founders to consider alternative approaches to fundraising.
HERE ARE SOME KEY POINTS IN THIS EPISODE
05:09 - The Challenges of Bootstrapping and Survival Mode
07:17 - Why Bootstrapping is Preferred over Venture Capital
13:23 - The Ease of Selling a Company
15:50 - Considering More Than Just Price in an Acquisition
23:15 - The Importance of Shareholder Agreements
27:11 - Keeping a Clean Cap Table for Investors
34:18 - Choosing Investors Wisely and Considering Their Impact
37:52 - The Importance of Making Payroll and Financial Stability
ABOUT MELISSA KWAN
Melissa Kwan is the Co-founder and CEO of eWebinar, a SaaS solution that automates webinars and eliminates the repetitive tasks of running and onboarding in sales webinars. Melissa is a strong advocate for bootstrapping and building businesses without relying on venture capital funding. Her entrepreneurial journey began without even knowing there were other options available. She was eager to start her own business but didn't even realize it was called a "startup." Her first company began as a product-focused business but later transformed into an agency to generate much-needed revenue. As a bootstrapped business, they accepted any project that came their way to sustain and grow. Now, with eWebinar, Melissa is embarking on her third Bootstrap startup, leveraging her extensive experience and knowledge gained from her previous ventures.
LINKS MENTIONED:
You can reach Melissa on her LinkedIn account here: https://www.linkedin.com/in/melissakwan/
To learn more about her eWebinar: https://ewebinar.com/
Check out Melissa’s Profitled podcast here: https://ewebinar.com/podcast
Hosted by Jason Kirby - https://www.linkedin.com/in/jasonrkirby/
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