When Should You Go To The VC?
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The document outlines 7 steps for developing a product before seeking venture capital (VC) funding: 1) Find a co-founder, 2) Build an MVP or prototype, 3) Promote the product, 4) Get user feedback, 5) Fix issues, 6) Stand out from competitors, 7) Start earning money. It then recommends founders ask themselves 3 questions to determine if they are ready to seek an investor: if they can still develop, grow, and sell the product alone without raising money. If the answer is no to any question, it's time to look for an investor.
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When Should You Go To The VC?
- 1. Karol Zielinski karolzielinski.com @KarolZielinski WHEN SHOULD YOU GO TO THE VC?
- 2. Simply… when you’re ready.
- 3. I recommend to follow 7simple steps
- 5. Don’t try to do everything by your own.
- 6. 2 Build a product, MVP, prototype or whatever
- 7. An idea is just an idea. Build something.
- 8. 3 Tell the world about your product
- 9. Gain as many users as you can.
- 10. 4 Get feedback
- 11. You build this product for users.
- 12. 5 Fix everything that has to be fixed
- 13. There’s no chance that your product will work perfectly.
- 14. 6 Stand out
- 15. I’m sure you already have at least one competitor
- 16. 7 Start to earn money
- 17. It’s worth figuring out if there’s someone in the world who’s able to pay for your product
- 18. Now sit down and answer these 3 questions
- 19. 1. Are you still able to develop this product on your own/without raising an investor’s money?
- 20. 2. Are you able to make your business grow/without raising an investor’s money?
- 21. 3. Are you able to sell your products or services on your own/without raising an investor’s money?
- 22. If you answered “No” for any of these questions – you should start to look for an investor.
- 23. karolzielinski.com @KarolZielinski fb/karolzielinski That’s it, thank you! more on Startups and Investors: http://bit.ly/1DfCtLG