For Entrepreneurs, Venture Capital Is Not Always the Best Option
Entrepreneurs get creative about funding their businesses -- and maintaining control of their vision.
ByClint Carter•
Opinions expressed by Entrepreneur contributors are their own.
You want numbers? Peter Dering has numbers.Peak Design, the camera accessories company he bootstrapped in 2011 with $25,000 from savings, has now raised more than $14 million. It has generated 90 to 100 percent growth for five years straight, and he has zerodebt. But here's the most exciting number: Dering still owns 100 percent of the company.
"The traditional model is to give away equity before anything about the business is determined," he says. "I didn't consider that." Instead, Peak Design grew viacrowdfunding. A Kickstarter presale campaign for each of its six product launches secured a healthy cash injection at every pivotal moment and helped build a rabid fan base. Its most recent campaign raised $6.7 million.
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