Re:How do I raise a seed/A round on the most founder friendl...
by api on Friday January 22, 2016 @06:48PM
(#10956343)
Have traction. Accelerators, mentors, and good connections help too but traction is the #1 thing.
Traction is press/attention, user growth, and revenue growth in that order and with exponentially increasing importance in that order. Lots of good traction trumps college degrees, credentials, work history, connections, you name it, at least with knowledgeable and rational investors. You don't want stupid or irrational investors.
Also don't be afraid to say no if the terms are bad. When you're talking to investors you are interviewing them too. They're going to be partners. (I don't care what anyone says-- all non-trivial investors become partners though they vary in how hands-on they are. This is even more true at seed than later.) If the terms are bad or you can't work with these people walk away.
Traction is press/attention, user growth, and revenue growth in that order and with exponentially increasing importance in that order. Lots of good traction trumps college degrees, credentials, work history, connections, you name it, at least with knowledgeable and rational investors. You don't want stupid or irrational investors.
Also don't be afraid to say no if the terms are bad. When you're talking to investors you are interviewing them too. They're going to be partners. (I don't care what anyone says-- all non-trivial investors become partners though they vary in how hands-on they are. This is even more true at seed than later.) If the terms are bad or you can't work with these people walk away.