Here’s a CreditCardVC Role Model
Don’t think that it’s actually possible to start a company using only credit cards and then have it grow until something good happens?
It’s a good thing that Randy Morin didn’t think that way.
He started a project in his spare time and it just sold to NBC Universal.
This was certainly not a blockbuster deal, just one of dozens of deals like this that happen every week, most of them getting little or no mainstream media attention.
But, lest you think it’s easy, take a look at this quote, which instantly enshrines Morin into the CreditCardVC hall of fame:
And lastly, do you have any tips for someone starting their own business?
Lets start by saying that 95% of Americans and Canadians dont know what an honest days work is. Most people reading this will likely say they are part of the 5% that do. Those people should ask themselves a simple question. Do you honestly work 40 or more hours per week? Remove lunch. Remove water-cooler downtime. Remove all breaks. Remove personal phone calls. Remove solitaire. If you are part of that 5%, then do it. But dont quit your day job. Do it part-time until you can pay the bills.
That sounds like a guy who groks the CredictCardVC manifesto.
OK, back to work for me.
In my second go around as a Credit Card-Self-Venture-Capitalist.
Thanks Scott!
I just realized that you lifted that quote from another blog and didn’t quote it. That’s quite unprofessional.
Sorry, I see the link now. My mistake.
What about credit cards for starting business? I’ve had my card for long and I’m a responsible customer, I guess. I think my credit score is just enough to apply for a business credit card but your statement about its unability to make a really good business are discouraging me a bit…
I never said you couldn’t make a “really good” business. I think you could make a great business.
There are only two ways to make a really big business, however. One is to use credit cards to get started and then have customers paying for a product early on, and grow from there. The other is to get outside investment.
Read the Manifesto!
Thank you, Scott, for clearing up. I think I’ll try the first variant you suggested. Running my own business has been my dream for a while and I’m going to realize it with my credit card management smart skills.