The guys over at Venture Hacks have some good points regarding raising that first round of investment – often called the “friends, family and fools” round.
* Leave your ego off the table and don’t fixate on valuation;
* Have a realistic view of how much you need to get to a quality value inflection point (so you can raise more or close a significant revenue generating partnership)
* Lead your own way (don’t be a follower) – this is the message of the video tagged onto the end of their post.
Best one liner: YC has set new lows for seed round valuations. AND set new highs for helping seed stage companies.
[picture courtesy of prologue]