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March 21, 2011 / Brandon Giam

Journal #4 : USD 15k and Lost.

I manage to raise USD 15k from an uncle (who is an entrepreneur himself). Made his money in timbre and property. In Malaysia and Singapore, property is quite the sure ticket to multiplying your millions. So in short, yes I manage to raise the money. He hasn’t really thought about the investment terms yet, but its small change for him and he is not really worrying about it. I guess I convinced him that he is investing in me, rather than my idea.

The question now is:

  1. What should I do first?. Currently, the designs are done and the coding can begin. I have 2 co founders (who are the developers), one is in America, one in India. I guess they are not as excited as I am to see the urgency of building the site. I don’t really mind the time difference. Maybe I am not too familiar with the programming process.
  2. What is the purpose of this money? If I am able to program this myself, I wouldn’t need the money. The money is to sustain the product, for it to gain enough traction or while gaining its traction, pitch to investors, hopefully a bigger investment to further scale the product.
  3. I am in a dilemma, should I hire a team of developers? or have my co-founders build it? By hiring a team, I would have my mvp done faster, but little is left for the product to sustain. By having my co-founders build it, it might take a longer time, but the investment will probably stretch longer. Longer stretch, more testing, more feedback, more traction. I am not sure ( been saying this too many times in this blog )

Currently I am the UI designer. Again, not sure if that’s a good thing.

Please do let me know your thoughts.



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