HN Explorer

Ask HN: When is the best time to talk to investors?

4 points by Kilimanjaro ↗ HN
We are ready to launch our latest startup and we would like feedback from the VC and angels community.

When should we start talking to possible investors. Before we launch, to get initial feedback? After we launch, when we test the acceptance of our product? Six months later, when we are profitable or not?

What is the best strategy to approach them? Just send them an introductory email about our product?

Feedback highly appreciated.

7 comments

[ 14.5 ms ] story [ 375 ms ] thread
Kilimanjaro
Another question, should we contact a bunch of them using pitching services like angel.co or is it better to contact them one by one, making it more personal.

Instinct tells you a more personalized approach is better, but pitching services look like a good alternative, if not, why angels subscribe to them?

jwu711
Of course best with a personal introduction, but many start-ups don't have one.

Pitching services are good to cast a wide net but just keep in mind that there are tons of start-ups that are blasted out on those channels so it's a bit harder.

Definitely try to get meetings just to talk and discuss early rather than asking for money. If you get them interested and engaged in more of an advice perspective, they tend to be more interested later down the line.

[deleted]
(comment deleted)
mrduncan
If possible, launch first, then start looking for investors. It'll be much easier to get noticed by investors when you have actual users.
Kilimanjaro
I agree. But sometimes it is better to get feedback before you launch so you can correct the course early. Most of the time they want to see profits.

So I guess it is a matter of getting advice early and funding later.

jon914
You should build a relationship with potential investors over time, starting from when you have a prototype. Don't wait until you actually need to raise a round.

Investors like to see traction in your product, and if you lack it, they'll continually label you as "early."

Avoid cold calls unless you have no other way in. Get introductions through your network.

jeffepp
Start informally meeting investors without pitching them. Go to conferences and events and try to build relationships.

If you live in the US there should be meetups and/or conferences within driving distance.

Take the time to start building those relationships as soon as possible.