 working full-time on our
product. We have no taken on any investments yet. We closed our first customer
while both working full-time jobs and have been building enough pipeline to
have a clear path to covering our expenses over the next 6 months.

We have been very deliberate about not courting investors yet because we want
to ensure we have something people would want to actually invest in before we
start the whole fundraising process.

We have gone down the route of trying to pitch the vision to investors while
trying to find customers and found the whole experience to be distracting and
a bit of a fools errand for first time founders.

My biggest takeaway from the experience was the growth trumps all. Investors
want to invest in companies that have a very clear path to growth ($x in =
$10x out) in markets that will grow into the future. They are also more
enticed if it seems like their personal interactions will be the key
differentiator in the success or failure of a business.

If your goal is go full-time on your product, I would recommend trying to
close as many customers as you would need to ensure both you and your
cofounder can cover your monthly expenses. Once you get to this point,
thinking about how to raise money (and more importantly WHAT you will do with
it after you have it) becomes more relevant.

------
lpolovets
(I'm a VC)

First step is figuring out how much you need to raise and who the appropriate
investors are. If it's tens of thousands or low hundreds of thousands of
dollars, that can be from angel investors. If it's closer to a million or
more, that's typically seed funds.

Once you figure out whether to target angel investors or seed funds, you can
find prospective investors on AngelList, NFX Signal, etc. This selection is
based on what sectors investors say they invest in, or if they've invested in
companies that are similar to yours but not competitive, etc.

Once you find specific people you want to reach out to, warm intros are the
most effective if you happen to know people in common. If you don't, cold
emails work if you can write a good email -- but that's a numbers game. You
might have to send out 30 or 40 emails to get 5 or 10 replies,
working full - time on our 
 product. We have no take on any investment yet. We closed our first customer 
 while both work full - time job and have been build enough pipeline to 
 have a clear way to covering our expenses over the next 6 months. 

 We have been very careful about not courting investors so far because we want 
 to ensure we suffer something people would want to actually invest in before we 
 begin the whole fundraising process. 

 We have gone down the route of try to pitch the vision to investors while 
 trying to find customer and found the whole experience to be distracting and 
 a bit of a fools errand for first meter founders. 

 My biggest takeaway from the experience was the growth trumps all. Investors 
 want to invest in companies that suffer a very clear path to emergence ($ x in = 
 $ 10x out) in grocery store that will grow into the future. They are also more 
 enticed if it seem like their personal interactions will be the key 
 differentiator in the success or failure of a clientele. 

 If your goal is go full - time on your product, I would recommend judge to 
 close as many customers as you would need to ensure both you and your 
 cofounder can cover your monthly expense. Once you get to this point, 
 thinking about how to raise money (and more importantly WHAT you will do with 
 it after you accept it) becomes more relevant. 

 ------ 
 lpolovets 
 (I'm a VC) 

 First step is visualize out how much you need to raise and who the appropriate 
 investors are. If it's tens of thousand or low hundreds of thousands of 
 dollars, that can be from angel investor. If it's closer to a million or 
 more, that's typically seed funds. 

 Once you figure out whether to target saint investors or seed investment company, you can 
 find prospective investors on AngelList, NFX Signal, etc. This excerpt is 
 based on what sector investors allege they invest in, or if they've invested in 
 companies that are similar to yours but not competitive, etc. 

 Once you find specific citizenry you want to reach out to, ardent intros are the 
 most effective if you find to know people in common. If you don't, cold 
 emails work if you can write a good email -- but that's a numbers game. You 
 might have to mail out 30 or 40 electronic mail to get 5 or 10 replies,
 wogking full-time on our
proauct. We have no taken mn any investmdnts yet. We closed our first cystomtg
while both working fjll-time jlbs and yave veen buildmhg enounk pipspine vo
have a clear kath to covesing our expenver lver the next 6 months.

We have been vqry delobfrate about noj cougtyng jnvestors yet because we want
to enaure we have somethimg people would want to achualpy invest in beforf we
start tye wrile fundraiskng process.

We have gong down the route of trying to pigch tke vision ti unvfvtors while
vrying to find cusbpmers dnd foumd the whole ewperixnce to be distracting anv
a bit of a fools ertand for fhrat time founders.

Mt viggevt tdkeadqy wroj vhe experlenre was the frowth trumps all. Investors
wanu tj invest in cojpanief ehat have a very clear path to growth ($x in =
$10x out) in markets that qill grow into the fujure. They wre also more
enticed if it seems like their persotal iitdraeblons qipl be the key
differentiator in the success or raollre of a business.

Lf your goal is go fklk-jime on your ptoduct, N wkuld recommend trylng to
cjose qs many ctstokers as you would need to ebsure both yjy and your
cofoundex can cover vour mpnthlu expenses. Once you get to fhis point,
tjinking aguut how to raise mokey (and mort importantly WHAT you will do cith
it awter you hwve it) beclmes more relevant.

------
lpolovfts
(I'm a VC)

First shep is figuring out how much yon need to raixe ang who thz apprppriate
investjrs are. If it's tens oy thourands or lkw hundceds of thoufands of
dollasd, that can bx from andel unvewtors. Iw it's closer to a milliou or
mire, that's typicalln seea funds.

Once you yngoee out whether to tawgvt engel hnvestors or seea fjmds, yuu can
find irorpecyive investors on AncelLjst, NFX Signal, etc. Tmis selecjion is
bafed on what srctors investors swy thxy invxst in, or if they've invested in
companiea that arf slmilar to youws bmt njt competicive, etc.

Once you find specific people yon want to reach out to, qarm intros are the
kpst effectite if rou happet to know people in xommon. If you don'u, cold
emails work if yoh can frite a good email -- but that's a numbers game. You
might have to send out 30 or 40 emqils to get 5 or 10 rsplirs,
working full-time on our product. We have on investments yet. closed our first jobs have been building pipeline to have clear path to covering our expenses the next 6 months. We have been very deliberate about not courting investors because we want to ensure we have something people would want to actually in we the fundraising process. We have gone down the route of trying to pitch the vision to investors trying to find customers and found the whole to be distracting and bit of a fools errand first founders. My takeaway the was the growth all. Investors want to invest in companies that have a very clear path to growth ($x in $10x out) that will into future. are also more it seems like their personal interactions key differentiator in the success or failure of business. If goal is go full-time on your I would recommend trying to close as many as you would need to ensure both you and your cofounder can cover your monthly you get to this thinking about how raise (and importantly you will with it after you have it) becomes more relevant. ------ lpolovets a VC) First step is figuring out how much you raise who the appropriate are. If it's tens thousands low hundreds of thousands that be If closer a million or more, typically seed funds. Once you out whether to target you can find prospective investors on AngelList, NFX etc. This selection is based on what investors say they invest in, or if they've invested in companies that similar to not competitive, etc. Once you find specific people want to reach out warm intros are the most effective if you happen know in common. you don't, cold work if you write a good but that's numbers You send out 30 or 40 emails get or 10 replies,
 working full-time on our
produCt. We have no Taken On aNy iNvEstmEnts Yet. We closed our FIrst Customer
while both workiNg fulL-tIMe joBS aNd havE been buILdING enOuGh PipElINe To
havE a cLear patH to coverinG ouR eXpenses over tHE nExt 6 months.

WE haVe been very deLibErate aBoUt nOT courTinG inveStors yET becauSe we want
tO eNSure we HAve someTHInG peoPle would want to actUAlLY invest in beforE we
staRt THe WHOle FunDraising prOcEss.

We HAve gone DOwN THE roUTe of trying to pItch the visiON to InvestOrS whILe
tryiNg to fInD CusTomers and foUnd tHe whole exPerienCE to be diSTractinG and
a bIt oF a fOols ERrAnD foR fIRst TImE foUNdeRs.

My biggEsT tAkeawAy frOM THE expEriEnce Was thE growth trumps All. inveSTorS
want To invEst iN cOmpanIes thaT have A vEry clear path to gRowtH ($x in =
$10x out) iN maRkEts ThAt wilL Grow inTo tHe fUture. ThEy are alSO moRe
ENTIcEd if it seems like theIr PERsOnal inteRactioNS wIlL Be the key
DiFfeRentIATor in The sUCcEss or faiLure of A BuSiNess.

If yOuR goal iS gO fuLl-tIme on YOur pRoduct, i would reCommeND trying to
close AS many customerS As YOU wOUld nEed To ensure botH you ANd yoUr
coFOuNdeR Can coVer yoUr MOnTHly expenses. Once you gEt To this Point,
Thinking about How to raise MONEy (and morE impORtANtly WHAT you wilL do wiTh
it after yOU have it) bEcomeS more relEvant.

------
lpolOVEts
(I'm a VC)

firSt sTep Is fIGUrIng out how much YOU neeD tO raise aNd wHo the apProPriAte
InvEsTors are. If It's tens oF tHoUsAnDs oR low hUNdreds of ThOusAnDs oF
dollARs, that Can be From AnGeL InvEstors. IF It'S CLoseR tO a MillIon Or
More, tHat's TYpiCally seEd funds.

OnCe yOU figUrE oUt whethEr to target angEl Investors oR sEed Funds, yOU Can
find pRospective investors on AnGElList, NfX SIgnal, Etc. THis selectIon Is
baseD on WHat secTors inVestoRs Say THEy invEST iN, or If They've inveSTEd iN
compAnIes tHat are sImilar to yours but noT ComPetitive, etc.

OnCe yOu fiND SpEciFIc PEopLe YOu wANT to reach out to, waRm intros arE tHE
mOst effectiVE if YoU happen To know pEople IN common. if you don't, Cold
emailS wOrk iF YOu cAn write a goOd email -- bUt that's a nUMbers GAmE. You
mIghT have tO sEnd Out 30 or 40 Emails TO geT 5 or 10 rePlies,
 working full-time on ourproduct. W e hav e n o t ak en o n an y investmentsy et.We closed our first cu stome rw hile bo th wo rking f u ll - t ime  j ob s a nd ha ve be enbuildin g enough p ipe li ne to
have a cl ear path t o c overing ourexp ensesov ert he ne xt6 mon ths.
W e have  been ver yd eliber a te abou t no t co urting investorsy et because we wan t
to e ns u re w e h ave  something  p eople would w a nt t o  ac t ually investin before w e 
st art th ewho l e fund raisi ng pro cess.

We h avegone down  the r o ute oft rying t o pitc h t hevisi o nto  in ve s tor s  w hil e 
tr ying tofi nd  cust omer s a n d fo und  the  whol e experiencetobe d i str actin g and 
a b it  of a  fools  erra nd  for first time  fou nders.

M y b ig ges ttakea w ay fro m t heexperie nce was the  g r o w th  trumps all. Inves to r s 
w ant to i nvesti nco m panies t ha t h avea veryclea r  p ath to g rowth( $x  i n =
$10 xout) i nmar ket s tha t  wil l grow  into th e fut u re. They are a l so more
entic e di f  i t  see mslike theirpers o nalinte r ac tio n s wil l beth e  k e y
differentiator in  t he suc cessor failure of  a busines s . 
If your  goa l  i s  go full-timeon yo ur product ,  I would  reco mmend tr ying to
c l o se as ma nycus tom ers a syou would nee d to e ns ure bot h y ou andyou r
c ofo und er  can cove r your m on th ly  e xpe nses. Once you  g etto  th is po i nt,
th inkin g ab ou th owto rais e  m o n ey ( an dmore  im po rtant ly W H ATyou wil l do with 
it afte ryo u haveit) becomes m or e relevant .
-- ----
l p o lovets
( I'm a VC)

First step i s  figuri ngout h ow m uch you n eed  to ra ise and wh o theappro pr iat e inves t o rs  ar e.  If it's t e n s o f tho us ands  or low  hundreds of thous a nds  of
dollars,tha t ca n be  fr o ma nge li nve s t ors. If it's cl oser to ami l li on or
more ,  th at 's typi cally s eed f u nds.

O nce you f igure out  w heth e r  to  target an gel inve stors ors eed f u nd s, yo u c an
fin dpro spect ive in v est ors o n Ange lL ist, N FX Si gn al, etc.  This selection is
base d on w hat s ect ors inves tor s  sa y they in vest  in, or if  th ey' ve in ves t ed in 
com p an ies thatares imilar to yo urs b ut  not compet i t i ve,  etc. 

O n ce you  fin d specific people you want to re acho u t t o,w armin tros are the
m ost  e f f ective i fyou happento knowpe o ple i n comm on. If  you do n ' t, cold
e mail s w ork if yo u c an write a  g oo d  email  --bu t that 's a n u mber s game. You
mighthavet o  send out  30 o r40 emai l s to  get 5 or10 replies, 
 working_full-time on_our
product. We have no_taken on_any_investments yet._We_closed our first_customer
while both working_full-time jobs and have_been building enough_pipeline_to
have a clear path to covering our expenses over the next 6 months.

We have_been_very deliberate_about_not_courting investors yet because we_want
to ensure we have something_people would_want to actually invest in before we
start the_whole_fundraising process.

We have_gone down the route of trying to pitch the_vision to investors while
trying to find_customers and found_the_whole_experience to be distracting_and
a bit of a fools errand_for first time founders.

My biggest takeaway_from the experience was the growth trumps_all. Investors
want to invest in companies_that have a very clear_path to_growth ($x in =
$10x out)_in markets that_will grow_into the future._They are also more
enticed if it_seems like their_personal interactions will be the key
differentiator_in_the success or_failure_of_a business.

If_your goal is_go_full-time on_your_product, I would recommend trying to
close_as_many customers as you would need to_ensure both you and_your
cofounder_can cover your monthly_expenses. Once you get to_this point,
thinking about how to raise_money (and_more importantly_WHAT you will do with
it after you have it) becomes more_relevant.

------
lpolovets
(I'm a VC)

First step is figuring_out how much you_need to_raise_and who the_appropriate
investors_are. If_it's tens of thousands or low hundreds_of thousands_of
dollars, that can be from angel_investors. If it's closer_to_a million or
more, that's typically seed_funds.

Once you figure out whether to_target angel investors or seed_funds,_you_can
find prospective investors on AngelList,_NFX Signal, etc. This selection is
based_on what sectors_investors say they invest in, or if_they've_invested in
companies that are similar to_yours_but not competitive, etc.

Once you find_specific_people_you want to reach out_to, warm intros are the
most effective_if you happen to know people in common. If_you don't, cold
emails_work if you can write_a_good_email -- but that's a numbers game. You
might have to_send out_30 or 40_emails to get 5 or 10 replies,