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cgabios | 10 years ago

It sounds like it's far too early and you would blow your chances with investors, and probably even angels. If you could manage to take on experienced business co-founder, that might signal some validation that the venture might have legs. But you're not going to get very far in the jungle of business on a wing and a prayer alone, you need someone and/or advisors with experience. If you could convince someone that has exited before, that would add to overall perception and validation. If investment were absolutely required for a venture to survive, it often comes across as desperation and a red flag to investors that makes them wary of the founders' ability to manage money and contain costs... ignorance is no excuse when it comes to money. That said, it is imperative for founders to track and minimize costs to demonstrate penny- and pound-wisdom to potential investors. Demonstrating religious accounting hygiene may mean the difference between investment and non-investment (see also: Felix Dennis).

I hope your venture is successful and be sure to keep the team together and pivot into something else if the current thing doesn't work out... good teams are hard to come by. (The more valuable thing than success is learning what mistakes were made and what move/s would have been better.)

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