Then work on that. Or try to partner with someone who has that
How? Mingle. Go to meetings. Network "horizontally" (in your tech segment) and "vertically" (in your business segment).
One way you're not getting that is by being the foreigner just off the plane (or even there for a couple of years) that can't speak German
There's actually a funny series of bilingual books about "How to be Berliner/How to be German" that are kind of tongue-in-cheek but it gets on the overall mindset
And as someone said below, something like < 100k can be gotten from FFFs, so look onto that.
I disagree. If you don't already have Social Proof, then it takes a big investment to try getting it. I believe for 99% of all startup teams, the time is better spent by working on your product or acquiring customers.
Networking is not working. I have seen so many startups in Berlin, who had a good shot of making it, but who wasted time in "fundraising" or "networking" and therefore killed their business.
Now obviously to each his own and for some it might work. But I believe only very few people on very few occasions get something out of networking.
EDIT: added a paragraph
You're right. But even for a technical person, spending "24h" coding is too much
But ideally one person would be dedicated to coding, another, to the business/financial/fundraising side
So, like most people in the Berlin startup scene?
The German start-up scene is pretty shitty.
Last time I checked about incubators or accelerators, most of the companies that work in that space were like "Oh no, we are not one of those, we do [insert some crap no founder needs] to help startups!"
Basically no one gives you money for anything if you don't know the right people and those who do want to own the company in full, which defeats the whole startup idea in the first place...
There is still a lot between 100k revenue and not profitable at all. What about something like barely selfsustaining (but by that proven to be somewhat profitable) with 2 employees? Or making 10k with a 2-man startup?
If you make about 100k revenue (or if you have otherwise significant traction), you can not only approach investors in Berlin but also ouside, which kind of solves the "Social Proof" problem.
If you are barely selfsustaining, then please stay bootstrapped and grow your business. Otherwise the process of fundraising in Berlin will most likely kill your business.
EDIT: added one paragraph
Social Proof could mean: - You are a Serial Entrepreneur - A famous Business Angel invested in your company - You graduated from a University with a great Alumni Network - etc.
Basically if a potential investor evaluates your Market, Traction or Business Model, then you already lost. If a potential investor invests, because he thinks other investors want to invest, then this is Social Proof.
For example you are talking one hour with a potential investor:
If you talk 90 % of the time about who else is investing and about how to structure the investment round, then you have Social Proof. If you instead talk 90 % of the time about how big the market is, what your revenue model will be any why your churn rate only decreased 2 % in the last month, then you don't have Social Proof.
Also if the potential investors talks about making the investment bigger to increase your run rate and increase your leverage for a Series B, you have Social Proof. If instead the potential investors is asking you if you can decrease your burn rate or recommends you to raise a smaller amount, then you don't have Social Proof.
EDIT: Added one paragraph
But to get those success you need social proof.
It's a hard problem.
"Very interesting. Let's keep in touch and come back when you make 5 * X EUR revenue."
And if make X >= 100.000 EUR revenue per month, then you most likely don't need 50-75K.
One thing in Berlin ist crucial: Social Proof. If you have it, you can raise 5 Mio EUR with basically zero traction and if you don't have it, it will be a long and timeconsuming process to raise any money at a fair valuation.
Are you willing to spend 6 - 9 months to raise 50 K and do you have significant monthly revenue? If so, your approach to meeting random investors should work. Otherwise you might want to apply for an accelerator in Berlin (for 25 K) or just focus in bootstrapping until you can approach international VCs outside Berlin.
EDIT: Spelling