Time is money, but in a startup, money is always time. As a pre-seed entrepreneur, you are on a tight timeline to secure the funding necessary to cement the foundation of your business. Speed is critical to the future outlook and success of your business, which is why you must strive to raise your pre-seed round in under 90 days or three months
You need to know as an entrepreneur how you will raise pre-seed capital and need to develop a strategy that works for your company. You also need to know your runway to calculate your next moves based on it. This is why you need to plan your fundraising around your available runway.
You will not raise enough money early on to create the best, feature complete version of your product. You have to think in terms of MVP early on to get to that next funding round until you raise that one big round that gives you the ability to take your big shot. MVP is not just a description of a product’s quality; it is a total mindset for how you run your startup. Unless you are one of the lucky few to have access to VC capital with no traction, you’re stuck proving that your idea is viable before you get the funding.
Getting early funded shouldn’t be that hard if you follow our free fundability guide at www.swalaventures.com