Bridges

0:03 Welcome to business purpose and Clarity with patreon your host we talk about startup live insights practical tips mistakes failures and everything between today's topic is preach I have a one Simon and Garfunkel Song singing in my head while talking and if you know what I mean or you can Google and check the title of the song you will get the point where I'm talking about let's talk about terms so pretty what is a bridge well it's you want to get from one show to another from a to P it's moving from one place to another it's a transit or a position meaning that it's it's not the end it's it's just the means to the end and this is what aprates is in funding at least it should be a crates to get to the other side get over.

1:07 The rough paths if you want to get a new round of funding meaning new investors in but you need a little bit of time maybe tweak a little bit of your numbers something like that then you might need a great surround from your existing investors to get but the bridge is always something where you need to do something in order to get somewhere else is not a purpose itself either you want to get cash flow positive you want to sell the company so you're buying a little bit of time in order for the things to work out but if that's not the case 10 is not a plate it's just around if it's not a preach it's around if you're getting new investors it's don't call it the plates.

2:10 If it's not leading to some somewhere more permanent and I understand why don't you you don't want to call it a round if it's like a down ground oh it's around nowhere because just need the money and you're running out of money and you're just applying a little bit of time I think it's around it's not maybe I'm getting a bit Petty with the but nevertheless I think it's nice to be and exactly at least in your own not to be fooled with the terms and be clear what are you doing what are you doing and what's the purpose of the thing have to fix your metrics.

3:15 You have to extend to run away some other ways maybe you get the existing investors committed to put a little bit of money in order for something else to happen and then that separates if not then you have a new round though some other things to consider maybe like sales or pivot or you could call me and we could figure it out together now let's put on the Simon and Garfunkel Bridge over the troubled water.