Entrepreneur Finds Innovative Way to Fund Startup – Without Venture Capital
Founder of Austin-based SaaS Company is Betting the House on His Company
Austin – Rather than raising venture capital (VC) to finance his tech startup, Michael Ramirez has opted to list his home for sale to generate funds. A marketing SaaS company founded in 2017, Evisio is a search engine optimization platform designed to streamline the SEO process and improve search rankings for users of all skill levels.
“I knew Evisio was the right idea to pursue and that the market for it existed because I am the target customer. Running an SEO agency is challenging because there are so many tools, processes and people you have to manage. It can better manage my business if I had one place to house this entire workflow,” Ramirez said, “But building such a solution would require funding. I first wanted to prove the concept before taking on debt and giving away a lot of equity. But I didn’t have the cash to fund it myself, and unfortunately, my family is not independently wealthy. So, I had to get creative.”
That creative solution turned out to be listing his 1,820 square foot South Austin home. Initially purchased as his primary residence, the proceeds from the sale would allow Ramirez to continue bootstrapping his business without the pressure of bringing in outside investors.
That creative solution led to Ramirez working multiple jobs to save money as he researched properties in Austin that would make a good future investment. He then used his savings to build the first MVP (most viable product) and update the home. Once satisfied that he had improved the house’s value, he listed it on the market with the idea of using the proceeds to scale this venture.
Bootstrapping Allows Ramirez to Build Early Valuable Equity
Many startups, particularly those in the tech world, seek out venture capital to provide them with the necessary funds to support the business in its early stages. While this has been a successful model for companies like DoorDash, Airbnb and Uber, it usually requires founders to sacrifice a significant piece of their equity to outside investors.
“By doing the hard parts at the beginning like hiring the right engineers, finding product market fit, building a marketing strategy and generating a scalable sales process, you’re able build equity into your brand and have a lot of leverage, especially when it comes to taking on venture capital or not,” Ramirez said. “Founders should have the leverage and power to decide which direction they’d like to take their company.”
Michael continues to find creative ways to bootstrap his company and encourages anyone interested in the search engine optimization industry to give his product a try for free at https://app.evisio.co/app_ops/
Evisio is an Austin, Texas-based provider of a search engine optimization platform. Designed for users of all skill levels, it automatically analyzes any site to identify SEO opportunities and weaknesses, generate reports and offer recommendations for improving the site’s ranking in search engine results.
Learn more at https://www.evisio.co/
2021 Guadalupe Street Suite 260
Austin, TX 78705