Personally I prefer to have a MVP before taking anyone else's money. I don't think its good to takes a friend's money so you can do some more 'exploring' - especially with the track record of not being able to find a MVP with your own money.
- Imho I would go back to part time work, and use only your own money until you've got a nice MVP, then perhaps you'll end up finding out you don't need others money.
- and when you do go back for money - make sure to have a answer to what you'll use it for (that should be the pitch for the money) .. along with # of users, Rev, Profit and some basic projections (Both good projections and worst case)
Comments
Personally I prefer to have a MVP before taking anyone else's money. I don't think its good to takes a friend's money so you can do some more 'exploring' - especially with the track record of not being able to find a MVP with your own money.
- Imho I would go back to part time work, and use only your own money until you've got a nice MVP, then perhaps you'll end up finding out you don't need others money.
- and when you do go back for money - make sure to have a answer to what you'll use it for (that should be the pitch for the money) .. along with # of users, Rev, Profit and some basic projections (Both good projections and worst case)