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24 hours to save my business. Possible? (alien.top)

submitted 9 months ago by happystatue@alien.top to c/entrepreneur@indiehackers.space

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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.

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[–] TomFromOpenScreensIT@alien.top 1 points 9 months ago

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.