Raising Money – What do you need to raise money for?

what do you need to raise money for
you’ve got to know what you need to
raise the money for if you’re going
after investment capital and it has to
make sense for your business I got an
email from a YouTube viewer says he
needs money to launch his appt company
and the money is going to be used for
hiring a professional app developer any
one of my suggestions so this is from
Orestes d92 here’s the problem if you
are an appt company if you’re a
technology company you’re making apps
you need to have somebody on board who
knows apps it’s really hard to go out to
raise capital for a company that wants
to make apps but doesn’t have anybody
who knows how to make apps on board does
that make sense if I was an investor if
i’m going to give you money I want to
see that you have this person already on
board on your team nothing you need to
go hire somebody this is a huge deal
this isn’t sales and marketing this is
creating your product you need to have
these skills already on board on your
team or people aren’t going to give you
the money to grow it so I see two
options for you here okay number one
partner up with an app developer if you
have great visions for you where you
want to take the apps you have some
great mission that you want to solve a
huge challenge that you’re trying to
help people overcome and you’re going to
solve it through apps partner up with
somebody who has had success and knows
the app market I need somebody who can
do the CEO job who can do the sales and
marketing you have to bring something to
the table for your company what is it
it’s not going to be the technical skill
so find somebody to partner up with who
has the same belief and same believes in
the same mission that you’re all about
and bring them on board then go get
capital because it’s really hard for
investor to put money into a company
where you don’t have the core
competencies already there the second
option is to start a lot smaller just
get a little bit of money and in hire an
app developer part-time on the side just
to get a product up with the longer-term
goal to bring on a full-time app
developer but you need
somebody technical guiding the product
right as a VC I would never invest in a
company who didn’t have their own CTO
right if you’re a technology company you
need an awesome technology engineer
guiding the product and the vision you
need them on board already it’s okay to
have somebody come on and do the sales
and marketing you can hire for that but
it’s hard to have somebody come on board
to be your CTO that’s a hard person to
find the higher and if you are
technology company without a technology
person you don’t have much to go with so
I really try to do my homework and try
to find somebody who could partner up
with because that’s going to be your
longer-term strategy for success is how
many somebody who’s invested in the
business who wasn’t just an employee who
this business means something to them
they’re going to put everything they’ve
got into it because they have an equity
stake in the company and then from there
you can raise money to help expand the
business you have a working product now
you need the golden sales and marketing
it that’s a lot easier to raise so good
luck believe I know it’s hard and and
really spend your time finding the right
person don’t just jump into something
because you think it’s a good idea it’s
got a fit the person has to fit with
their skills and also their belief and
their motivation for starting the
businesses for the right reasons believe
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you