I’m pondering the feasibility as a first-time founder of trying to secure VC funding for an idea that’s still in the conceptual stage, pre product and pre revenue. I’m based in the UK is this impossible in the current economic climate. Has any one successfully raised funds at this early stage? If so what was the journey like, what factors do you believe contributed to your success? Or is this something founders with a successfully track record can only do? Thanks

  • mikejackowski@alien.topBEnglish
    1·
    1 year ago

    Avoid seeking VC if you’re pre-revenue/pre-product. Money isn’t your immediate need.
    Gather potential users for customer interviews (search “in-depth interviews”). Conduct 6-8 to identify patterns and focus on pain points.
    Next, build an interactive prototype for user testing.
    Set aside $1000 for ads, build a landing page, and create a waitlist.
    Then, consider approaching angel investors.