Want To Raise A Million Bucks? Here’s What You’ll Need
How much sales traction do you need to set the entrepreneur bell curve?? http://venturehacks.com/articles/how-much-traction
So, you’ve built yourself a nice little product. Maybe you’ve raised a small friends-and-family round; maybe you’re still bootstrappin’ on your own. Either way, now you’re looking to raise at least a million dollars to help with the next steps.
While there’s no perfect formula for stuff like this, these stats from AngelList’s Ash Fontana are a pretty good indication of the metrics you should be aiming for.
As part of the FirstTuesday startup gathering in Santiago, Chile, this evening, Ash presented a slide outlining some ballpark metrics that startups should aim for before swoopin’ in for a big first round:
[Photo Credit: César Salazar of 500Startups]
As a Venture Hacker at AngelList, Ash’s job involves poring over tons of deals to try and work out exactly what makes a good deal go down. In a conversation I had with Ash earlier, he asked me to note that these numbers…
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