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For founders who do not have a network the best bet is come to the table with paying customers and a pipeline. It is hard to deny growth and success. Do a lot
by auspex 5y ago
For founders who do not have a network the best bet is come to the table with paying customers and a pipeline. It is hard to deny growth and success.
Do a lot of outreach trying to get someone to see the numbers and open the door to talk.
- lubos 5y agoOnce you have paying customers and growth, the appetite for investor money goes down very quick.
- altdataseller 5y agoDepends. If you are happy with a lifestyle business or low 7 digit outcome, then yes. If u are aiming for at least $100m exit, you might need the $$$
- b20000 5y agoif marketing / sales is free you can scale it up without funds. unfortunately, i came to experience first hand it is not. i doubt you can scale without paying for marketing somehow.
- your_username 5y agoI have found that the more excited that a customer is excited about a product the more apt they are to be your best salesperson. This was especially true for one of my consumer SaaS.
- tluyben2 5y agoWhen I was younger, decades ago, I always wondered why investors keep saying we need to have customers and revenue first before plonking down millions; why would I need investors when I have paying customers?? Then we got paying customers, customers paying millions/year and we found out why we need investors. Not all businesses do but even little more than slow growth is pretty hard when bootstrapped; we exhausted bank loans pretty fast as they are too conservative.
- b20000 5y agoi had all that and didn’t raise money. i also moved to the bay area. didn’t matter either. the idea or business didn’t matter. it became clear you need a strong network of people who know people. and that takes a lot of time. if you are building a product you have no time for that.