How to Raise Funds - Daniel Palmier

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Decide On Your Main Feature
What is one thing your product does really well?
A lean team can usually build one feature fast
without burning out.
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Create a Prototype
Prototype just that one feature. Make 2-5 screens
in Photoshop, Balsamiq on paper etc. anything
that visually shows how the product works.
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Test With 100-500 Customers
Ask people in coffee shops, run Google and
Facebook Ads, make landing page, emails. If the
prototype make the sense to them, Keep going, if
not go back to last step.
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Build A Functional Prototype
Now build the functionality. Still just one
feature to minimize the cost. See you can do it
in WordPress or AppBuilder.
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Get Traction With 10000 Peoples
Now the Challenge. Get traction. Try Everything
Facebook, Twitter, Email, Bloggers, TV, Launch
Party, partner with another startups etc.
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Try Monetizing
Monetizing is not necessary if your traction is
high. But if it is not, you can monetize your
chances with investors will be higher.
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Develop
Now that you have tractions/Cash, develop the
product to scalability on python, ruby, PHP, Java
etc.
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Create A Pitch
Simple pitch deck with product Market Size
Team Monetization Strategy.
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Find Investor
VC invest 5 Million and Up Angel average 345K
per round. Use LinkedIn, Angel.co etc. to find
them. Give demo in the events.
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Pitch
Hussle, but be human. Show you are sharp and
trustworthy. Tell everyone what you are doing.
Sooner or later you will be referred to the right
person.
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Increase Your Chances
While you are fundraising, keep improving your
product. No investor wants to fund marketing of
development. They prefer to invest in scaling.
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Never Give Up
The Founder of Pandora.com was rejected by 300
investors before he got a yes. You are in it to
win it. So keep going.