Hi I'm 25 and never been involved in business before. I am a researcher into longevity and digital immortality and I would like to start a company for digital legacies - a kind of "make your own autobiography" software to store people's thoughts and memories online. What realistic progress do I need to have made before I can raise any money towards this project?
If you can make a product which users are prepared to pay for - even in a basic 'minimum viable product (MVP)' sense, then you can 'bootstrap' your way to profitability. Not having money up-front is actually a positive. You focus, laser-like, on building something of value that users are prepared to pay for. Then, with a working product and business model you'll find it much, much easier to raise money - and at a decent valuation. If you'd like to read more, Paul Graham or the guys at 37signals have written plenty online about starting up in this way. Happy to talk on a call if you're interested in learning more on this approach.
Answered 9 years ago
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