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3 questions I was asked at a recent @collisionHQ event:
1. How much revenue do I need before a #VC will commit to invest?
2. How do I demonstrate traction sufficient to get an investor to commit?
3. How can I help the investor understand that this is a “really big opportunity?”
1. How much revenue do I need before a #VC will commit to invest?
2. How do I demonstrate traction sufficient to get an investor to commit?
3. How can I help the investor understand that this is a “really big opportunity?”
SPOILER: There's no exact formula for this. But these questions did remind me of how @Techstars Chief Investment Officer, Jason @Seats, explains to #startups and #entrepreneurs how to get an investor to say yes. (2/7)
Jason talks about the investor needing to “believe in the inevitability of your success.” They have to picture that this is going to work, with or without them. To get there, they’ll need to have the following mindset about your startup. (3/7)
Yesterday, @CircuitApp hit $3M in ARR, ~12 months after crossing $1M! 🥳🚀
We've done this without raising traditional VC, here's how: Thread 👇
We've done this without raising traditional VC, here's how: Thread 👇
We started Circuit with a ~£25k loan provided by the founders, enough for us to outsource what we needed to, and enough to spend small amounts on paid ads where it made sense.
We only ever spent on ads where we had positive ROI, which meant in the beginning, £10-20/day on 20-40 installs, and charging from day 1.
