Thu, 10 December 2020
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
I talk with entrepreneurs every day about their fundraise. The most common question from the early-stage startup is, “Am I fundable?”
The first question to ask is, “Do you have a growth story?” Are things clicking forward on sales, team, and product development?
I believe the prospective customer should be involved at every step and not just the last one in buying the product.
The customer should be in there talking about the problem they need solved. They should be guiding the product development at some level.
In every investor discussion, you should talk about the customers you are engaging and their interactions with your idea or product - even in the beta phase.
You should also have a core team. In the very early stages, someone is building it and someone is selling it. No fair, you’re both building it and no one is selling it.
If you can answer those questions with substance, then you are in the game to consider funding.
It doesn’t matter where you are on the journey, you just need to show you are making consistent and meaningful progress.
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Direct download: Startup_Funding_Espresso_--_Are_you_fundable_yet.mp3
Category:general -- posted at: 7:00am CST