How have you funded your startup, and what advice would you give to others looking for funding?
Masios
2 replies
I hope to better understanding of how much traction is necessary and whether or not connections were essential.
Replies
JD@jd_manager
Here are a few key points I try to keep in my mind when seeking funding:
1. Develop a solid business plan outlining goals, strategies, and projected revenue streams.
2. Research investors and their investment criteria, including experience, reputation, and risk tolerance.
3. Network with industry professionals and pitch to them directly.
4. Be prepared to answer questions regarding background, skillset, and future plans.
5. Keep detailed records of all interactions.
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I first bootstrapped by utilizing personal savings and resources, then sought angel investment by presenting a compelling pitch deck and demonstrating a clear business plan, and finally secured venture capital by showing significant user traction, a scalable model, and a dedicated team; my advice to others would be to thoroughly research potential investors, tailor their pitch to each investor's interests, focus on building a strong product or service, and maintain transparent and open communication throughout the funding process.