Been referred to this sub by the Ask me anything community.
5 years ago I created a news streaming app containing live news events from around the world. Though I faced a lot of setbacks and challenges along the way, the app has been operational thus far.
Here comes the challenge - The operational costs have significantly overtaken the earnings generated by the app. In less than 24 hours, a bill of 7000 USD awaits. If I combine my savings + funds in my account, I have about $1400 .
Should I attempt to raise the $5600 in the few hours remaining? Or would it be wiser to bid the business goodbye?
Someone suggested I set up a fundraiser. I’ve got some contributions so that’s a good sign!
Any other ideas will be appreciated.
Unless this has been going on for months on end, you can let the company know you will be delayed on that payment.
Apply for a business credit card, pay your 7K bill and pay it to the bank/credit card in monthly installments over the course of a year, it should amount to roughly 700$ after interests.
Meanwhile focus 2024 on increasing revenue by a shitload.
Good luck.