[akula]

Originally Posted by MsNadi

Based on the filtering and syndication, we've got questions regarding to what extent we should go before we start going HARD after investors.

Brief background. Did some research. Our idea isn't costly, but it isn't cheap either (ball park estimates: $50K - $100K would do us WELL). But we also realized going to an investor with nothing but an idea and a smile (two cute smiles might I add... joking) isn't going to separate us any from the pack. And the more of OUR money that we've put forward, the more it will show that we are serious and not one of those - I'll-waste-your-money-but-not-my-money entrerpeneurs.

Maybe this is something that I should PM.

Nadi, no, I think these issues are relevant to most tech startups,so I'll cover them here.

First of all, 100k does not qualify as a vc deal. Funding this amount does not move the needle for $100million funds.

Your deal is best suited for angel syndicates, a small number of which is listed at http://www.angelcapitalassociation.org/.

Angel investment is different to vc investment on very important points which you might want to ask about.

Secondly, the timing issue is simple. Start talking to people RIGHT NOW. Irrespective of whether you're shooting for private or institutional capital, what investors want to see are consistent improvements not this mythical creature commonly known as the perfect startup.

As you already know, with early stage plays, the money is not being invested in a balance sheet (because there isn't one). The money is invested in promising, young people who have everything to prove on their way to becoming captains of industry.

By contacting prospects as early as possible, you have more opportunities to show your consistent achievements and progress.

Nadi, you need an online resume and other networking tools. I'm not kidding - if you consistently show up to industry events - you'll find your problems rapidly dissipitating.

Go to http://www.angelcapitalassociation.org/ and start building a mailing list. It's simple: a) send out an email, "we're doing this and that, do you want to be on our mailing list, can you suggest someone who might?" b) send out progress reports on how you're kicking ass and ask for those to be forwarded around.

It works, but remember the golden rule of pitching: Ask for advice and you might get capital, ask for capital and at best, all you'll get is advice. (i.e. don't email people asking for money, ask for advice in regards to specific issues like management, marketing or financial matters, ask people to be beta testers, ask on advice for how to cut down costs, or do market research - usually, that leads to people cutting cheques because they can see exactly what the money is being spent on rather than "oh, just give us the funding and we promise to spend it wisely")

Is there anything else I can help you with?

[cokeclassact]

this is a really good and useful thread and i just wanted to publicly say good luck to msnadi, i think she is going to be great.

[MsNadi]

I updated the post since your response (sorry). :::thinking as I'm typing:::

OK. WOW! (this response is useless).

Progress. Got it! I had figured (because I'm not a VC/Angel) that they'd want to something developed as oppposed to seeing progress. But as soon as you said "progress" that makes complete sense. WIP...where's the WIP!!! It's like project management - as an advisor, projects of most interest are those that are making consistent strides towards the end goal, as opposed to something that comes out of nowhere with Step 2 (with no information on what Step 3 may be or how they plan to get there).

Sheesh. I can't thank you enough Danny!

[MsNadi]

Originally Posted by cokeclassact

this is a really good and useful thread and i just wanted to publicly say good luck to msnadi, i think she is going to be great.

Thanks Matt! We're trying.