We’re in the midst of creating our MVP and we currently have a waitlist going. How much traction do we need before looking for funding?
Do you need revenue? Or is the waitlist enough? I know it’s a tough market, and I’m sure having revenue would help, but we’d like to raise now.
If you plan to raise its going to be a long road. Start talking to them now and do a monthly newsletter to possible investors. You have to create the hype.
$10K MRR is typically when you can start getting attention for the typical SaaS business. But that varies greatly by industry.
$10K MRR is typically when you can start getting attention for the typical SaaS business. But that varies greatly by industry.
Not enough info to go off of but I would like to see product or revenues. If it’s pre revenue and pre product. It’s just an idea
kind of depends on your business. but if you’re in SaaS, pre-MVP, you need to show growth rate and total numbers on your wait list, bonus if they pay you a deposit.
for our accelerator basically we look for growth rates of 20-40% month to month and/or revenue reaching around 10k ARR - just to give you an idea.
but there are so many variables at play you need to take into account.
so, lets put it another way. just try, reach out to 4-5 investors, see what they say as feedback, that’l help you decide, if they all say ‘no need more traction’ then you have your answer.
kind of depends on your business. but if you’re in SaaS, pre-MVP, you need to show growth rate and total numbers on your wait list, bonus if they pay you a deposit.
for our accelerator basically we look for growth rates of 20-40% month to month and/or revenue reaching around 10k ARR - just to give you an idea.
but there are so many variables at play you need to take into account.
so, lets put it another way. just try, reach out to 4-5 investors, see what they say as feedback, that’l help you decide, if they all say ‘no need more traction’ then you have your answer.
Not enough info to go off of but I would like to see product or revenues. If it’s pre revenue and pre product. It’s just an idea
Make a one pager and list numbers.
Find a scout and argue about the amount you are seeking. Like ask for way more than needed.