Earth Notes: Radbot: Origin Myth: 3

Is it a bird, is it a plane? No, it is a radiator robot with AI! #webcomic
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Radbot Origin Myth 3 "Funding" (Copyright © 2016) , editor .

To get someone to invest, which might be for shares ("equity") or with a loan ("debt"), the golden rule is that you need to show the person with the gold that you have a capable management team. (If you can sell oil to the arabs does it matter what the product is?) Then preferably show that your product/service works, that there is a market for it, and that people are prepared to pay for it. That can often be boiled down to "team, traction, data". One investor may take a punt on us without those, another may say no. (You have to expect most to say no, whatever your case, for many reasons and non-reasons!)

But how to get sales ("traction") to show investors before there's have a full product to sell? Hmm, I think we call this bootstrapping in IT, or in some cases "crowdfunding". Raise enough money to get the first shippable product and ship it.

Confused? You will be!

Tune in next time to find out more about Radbot's encounters with marketing!