How to Raise Money – It’s a Journey Not An Event
Every year I teach classrooms full of students who leave class understanding the basics of how to search for product/market fit—and thinking their next goal is to “get funded.”
That’s a mistake.
There are two reasons to raise money:
- You have a killer idea that is only partially validated, that you think can get to $50M+ of revenue in 5 years with 80%+ gross margins (if margins are lower, you need a lot more revenue)and you need money to get to product-market fit, or
- You (think) you have product-market fit with real customers and real revenue and need money to grow and expand.
Not all startups need outside investment to grow.
What most founders don’t realize is:
- Every stage of a startup requires a different set of metrics and milestones and founder skills. Knowing these will help a founder position her pitch to get investors’ attention.
- Founders need to keep…
View original post 2,662 more words
rPod Coworking Space 