Comment by leetrout
10 months ago
It's less about asking how to do it because "I just don't know how" and more about asking how others might do it or have done it.
What I have ran into is that reaching out to investors from past startups where I was a dev--they struggle to see me as anything other than a dev (which was 12 years ago, I've had a career since then) and they seem to want social proof. So a bit of a chicken and egg problem.
Well if you have >$0 revenue, even if you’re running into the red, if you have some evidence that access to cash is what’s holding the business back from growing, even steadily in a boring niche, it’s usually enough to get your foot in the door.
Most cities have a network of angels. Some times they hold open events or may have a directory of people you could call to see if they’ll hear your pitch. Then there’s venture debt, and debt. With high interest being what it is now may not be a good time for those options. Self funding and bootstrapping is the most self-sufficient way to go if you have the supports for it.
If you can’t get your foot in the door to pitch angels then I’d keep hustling. Present at local developer meetups, network online, meet people who would be willing to put in some part time into a side-gig for equity. Keep building that revenue until you’re profitable on your own and can hire folks on your own or the angels can’t ignore you.