I was kind of surprised today as I was talking to a person who was working on an idea and he was also seeking funding from various online sources. I was then asking if he was waiting to see how much funds he would get before pursuing it full time. Surprisingly, he was then telling me how he was still going full fledged and people have even sold their houses to ensure funding.
I was wondering why he did that approach too and I suppose in some ways it helps to give investor confidence that you aren’t going to just disappear the next day. Not a bad idea I guess too where if you can get extra funding then the better as nowadays you can get funding online without the need to give up a large chunk of equity in your business. Selling your house though is pretty extreme to prove that point.