I am trying to build a marketplace concept in travel domain. I have received $ 100K in funding from an angel investor. The product development has not been started yet. I have come up with wire frames for the product and now need to start engineering execution of the product. I am following the "Lean startup" approach of developing an MVP first to achieve product-market fit. Want to know how much budget should be used to bring a product to launch and how much money should be budgeted for paid marketing. Our goal here is to achieve Series A funding within 18 months without running out of money. Also, an additional question will be, I am trying to get somebody as a technical co-founder, how much equity should I be giving him? Please shed your thoughts and would like to jump on a call with you.
This is a fairly simple exercise in cash management/budgeting.
You know you have $100K, it has to last 18 months, and you probably have a good idea of what it is going to cost you to get to the next milestone.
Now you just need to put that down on paper and see if everything pencils out.
Would be happy to discuss with you how to make that happen.
Answered 7 years ago