I have heard radio interviews and seen very successful social crowdraising campaigns, that raise their money and go onto become multi-million dollar companies, spoke with an entrepreneur who had 15 million to start for his business. While others struggle for years, or churning out idea after idea, or sit with $0 on gofundme or indiegogo. Is it luck? Talent, is it chance, a phase of astrology, is it the people you know, your credit score or earnings, the family you were born into, energy blocks. Is it neural pathways, is it if you nap like Einstein did? What is it?? I have pondered this for years. It is very hard to raise seed money. Yet some people know how to do it so well!
Love the question! I also believe Maurice, Kerby and Assaf have done a great job answering it.
What I'd like to add is the consideration for these questions:
* Why are you raising the money? (why will it help? why can't you do it from profits? why now?)
* What do you need it for? (what are you buying, people's time? equipment? land? compute power?)
* When do you need it? (when is too late? when can you get started?)
* How are you going to manage it? (how will it be spent, tracked, reconciled, invested, returned, etc.)
* Where is the need? (where is the market for whatever you are building?)
If you answer vaguely to any of these, it might be a factor.
Answered 5 years ago
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