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Thank you! Connected on Linkedin
Not really. I will launch this Notion page on Product Hunt to get some early testers of Shizune V2. But at this moment, I'm just looking for feedback on what I should add/change.
DMed you the link on Linkedin
Thanks for asking. We've launched the MVP, got 100+ customers in one month, but quickly realized that we need to fix onboarding (done), add investor scoring (done), and speed up investor research 10x (in progress).
We're going to launch a big update in late Jan and then double down on marketing.
Short answer: when you really need it. That means you know exactly how much money you need, what milestones you will hit with the money, and what steps you need to take to make it all happen.
Seed stage example: "We need $1,000,000 to hit $10k MRR milestone in Q3 2022. We will hire 2 developers, 1 designer, and 1 marketer. We will launch features X and Y because we already have 5 pre-orders for these features. We will double down on the X marketing channel and expect to get X paying customers in 6 months because we've been able to get X users from this channel with X CAC."
You can raise money earlier, but you still need to be clear with investors why you need this money and what you're going to achieve with them.
But be prepared to defend your plans:
- Need money to get first customers — why can't you get them from free channels?
- Need money for marketing — what marketing channels have you already validated?
- Need money to build the X feature — why are you sure people want what you're building?
You already passed the pre-product stage, and that's awesome! If you have some traction, you're good to go. For B2B, it might be LOIs from big companies or early revenue. If you don't have traction yet, I strongly recommend you focus on that first. It will be much easier to raise money when you can prove to investors that there's a need for your product.
Getting traction is the hardest part. Fundraising is easy (but exhausting). You just need to do 50-100 investor meetings in 3-4 weeks. The algorithm:
1/ Build a list of relevant investors.
2/ Get warm intros to them (preferably) or cold email them.
3/ Pitch them.
I wrote a detailed guide on how to find investors , and how to cold email them . Check them out if you're interested.
I interviewed 100+ founders about fundraising, so feel free to ask me anything. Good luck!
By the way, I'm building a bot that can find investors and get meetings for you. I launched it 2 weeks ago, so I'd appreciate it if you can test it and share some feedback. It's 100% free for now.
 How to find investors: https://shizune.co/blog/how-to-find-investors-for-your-startup-in-3-steps-guide/
 How to cold email investors: https://shizune.co/blog/how-to-cold-email-investors-and-get-meetings/
 My bot: https://shizune.co/