📌 Validate your business idea with real customers before raising funds; prove the concept works to attract investors.

📌 Embrace unconventional financing methods, like private funds, to kickstart your business and show early traction.

📌 Scaling requires persistence; seek big investors, attend conventions, and build international partnerships for growth.

In this episode 144 of "Failing to Success", Juan Carlos Diaz, co-founder of Luxun Energy, shares their journey in the energy industry, providing green energy solutions without upfront investment. Initially, they faced fundraising challenges but managed to secure $30,000 from friends and family to begin installations. Positive validation from a major client boosted their confidence. They created a private fund, demonstrating that investors were interested in renewable energy projects. During the pandemic, they persevered and secured funding from a local bank. Subsequently, they raised $43 million from major funds. Diaz advises entrepreneurs to constantly validate and adapt their business while seeking unconventional funding routes.

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Timestamps:

00:00:00 Intro

00:01:07 Fundraising

00:08:41 The Economics

00:15:18 Advice to New Entrepreneurs

00:17:15 Contact Luxun Energy