“We help our customers but don’t tell them exactly how. Our core product is a commodity, yet we don’t disclose pricing. Even when we do, there are substantial hidden costs. It has to be bought in bulk, more than they want. We can take months to onboard a customer. We reject most of them but don’t actually give them a straight answer. They don’t get dedicated support. They don’t get to choose or replace their representative. We don’t commit to serve them in the future. We have hundreds of competitors with the same strategy. Now where’s my check?”
That excerpt from Startup Boy is an interesting look at how VC and other investors work and invest in businesses. They often will not tell you how long they will take to process your application, do not commit to a funding figure, and do not commit to what sort of equity stake they will take or when (look at the last point here)
But, what if a investors had a service level agreement? That they will fund US$XXX for XX% and will turn-around an application in XX days? Well, someone is, now.
Kima Ventures has launched the Kima15 program, guaranteeing feedback (No or Yes. No ‘Maybes’) within 15 days for a $150K investment for 15% (US$1M valuation). And yes, they do fund companies all over the world.
Check it out.
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