We’re in the midst of creating our MVP and we currently have a waitlist going. How much traction do we need before looking for funding?

Do you need revenue? Or is the waitlist enough? I know it’s a tough market, and I’m sure having revenue would help, but we’d like to raise now.

  • PM_ME_YOUR_WIKI@alien.topBEnglish
    1·
    1 year ago

    Depends how much you want to give up.

    I have experience with both ends of the spectrum.

    I raised $100k for my side project off of 10 slack and LinkedIn messages saying. “I would buy that if it existed”. I would NOT recommend this generally but I’m a marketing guy and had an idea in biotech that I could market but had no idea how to build.

    On the other hand I helped a company I worked for get an exit by focusing on revenue and expected growth based on years of data.

    If you can accomplish the basics of an MVP and good messaging I wouldn’t raise.

    What problems are you facing that giving up 30%+ to VCs would solve?