Questions

We're not launched yet, but plan to be very shortly and then ramping up our customers / sales. I am attending a tech conference in August and am unsure if I should be actively seeking funding while I am there. Is it okay to introduce myself / the company even if we aren't ready for funding so that when we are, those connections have been started? What metrics should we be focusing on before trying to get funding? I have heard that I should be making between $5-10k monthly before looking. Is this reasonable? Any advice is greatly appreciated.

It's a very broad question without knowing what you are doing (market / problem / solution) and who is doing it (what expertise / skillset you have in the team). To say that you should have 5-10K in revenue would be wrong for a consumer app (like snapchat or frontback) but it would completely relevant if you were running a marketplace like etsy. What you do and how you do it matters. Showing up at a conference and pitch by-standers is most of the time not a good choice (especially if that's what everyone will be doing that). Investors take seriously founders who get to them via their network. If you approach Dave McClure at at a conference he might be polite to listen to what you have to say for 2 minutes but he has made it clear a number of times not to try to pitch him at events. Instead approach a founder who works with McClure, get his attention and convince him that what you do is awesome. Then ask him to intro you to McClure / in the meantime you would have also learned from such founder what are the minimum requirements to get any interest from McClure. Happy to provide more details.


Answered 10 years ago

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