{"id":80185,"date":"2020-01-14T20:05:30","date_gmt":"2020-01-15T04:05:30","guid":{"rendered":"https:\/\/spring.is\/old\/?p=80185"},"modified":"2020-01-15T21:19:27","modified_gmt":"2020-01-16T05:19:27","slug":"bootstrap-or-raise","status":"publish","type":"post","link":"https:\/\/spring.is\/old\/blog\/bootstrap-or-raise\/","title":{"rendered":"Should I bootstrap or raise? How to know if you\u2019re ready to raise capital for your startup"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"80185\" class=\"elementor elementor-80185\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6a0ee6d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6a0ee6d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f7d8525\" data-id=\"f7d8525\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-57ee979 elementor-widget elementor-widget-text-editor\" data-id=\"57ee979\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.16.0 - 13-09-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>In the entrepreneurial world, funding is about helping you accelerate scale. It allows you to rapidly increase investment in key areas of the business so that you can move faster than if you funded through your own money and\/or revenue.<\/p><p>That being said, not every company is fundable. Here\u2019s what you should consider as you contemplate whether you want to raise capital or simply continue bootstrapping.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a63f6cf elementor-widget elementor-widget-heading\" data-id=\"a63f6cf\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.16.0 - 13-09-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h4 class=\"elementor-heading-title elementor-size-default\">Do you have a team?<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9ab4bf6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9ab4bf6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0614b47\" data-id=\"0614b47\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-74fff1d elementor-widget elementor-widget-text-editor\" data-id=\"74fff1d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Investors and lenders will less often invest in a solopreneur. That\u2019s because funders want reassurance that the business will survive if anything goes sideways and you need to step away.<\/p><p>While you don\u2019t necessarily need co-founders to successfully raise, you do need a team. Contractors and part-time staff can be considered a team if there\u2019s a plan for them to take on a leadership role when you close your round.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d35601f elementor-widget elementor-widget-heading\" data-id=\"d35601f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Do you have a minimum valuable product (MVP)?<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f90a9f7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f90a9f7\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-81addbd\" data-id=\"81addbd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e157f93 elementor-widget elementor-widget-text-editor\" data-id=\"e157f93\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Why Valuable vs. Viable? Your MVP should be usable and able to deliver actual value to your customers. That means no mockups \u2013 they don\u2019t actually give you a clear sense of whether your customers need\/want your product.<\/p><p>With investors especially, you\u2019ll need to have revolutionary intellectual property (IP) or a prototype that\u2019s close to commercialization \u2013 perhaps even launched \u2013 and have users on your platform, even if it\u2019s all done manually and piecemeal behind the scene.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3371e19 elementor-widget elementor-widget-heading\" data-id=\"3371e19\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">What Does Traction Look Like?<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a5df3b5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a5df3b5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8b323a2\" data-id=\"8b323a2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-679fc89 elementor-widget elementor-widget-text-editor\" data-id=\"679fc89\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Coming up with a solution is one thing; getting it into the hands of customers is another. Being able to prove traction will help you de-risk the opportunity for investors and secure a better valuation for your rounds.<\/p><p><a href=\"https:\/\/medium.com\/@ms.mbalke\/aarrr-framework-metrics-that-let-your-startup-sound-like-a-pirate-ship-e91d4082994b\" target=\"_blank\" rel=\"noopener\">Pirate Metrics<\/a> are a good set of high-level key performance indicators (KPIs) to help gauge the health of your startup. Coined by Dave McClure at 500 Startups, it\u2019s called Pirate Metrics because it stands for AARRR \u2013 Acquisition, Activation, Retention, Revenue, Referral.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b678c46 elementor-widget elementor-widget-heading\" data-id=\"b678c46\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Prematurely scaling risks failure<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5012bdf elementor-widget elementor-widget-text-editor\" data-id=\"5012bdf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Be aware of how ready you are before you start to raise. Just because 5,000 people have signed up for your newsletter, doesn\u2019t mean that you\u2019re ready to pour money into it and make it scale quickly. You could be amazing with marketing but actually have a terrible product\/solution which needs to be revised. The last thing you want to do is build a leaky ship!<\/p><p>If you have at least Acquisition, Activation, and Retention nailed down, you\u2019re ready to start raising.<\/p><p>If you\u2019re not there yet, pause here. Bookmark this, go focus on customer discovery, flushing out your product, and acquiring new users\/customers OR consider other ways of funding your business for now.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c47c591 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c47c591\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-144b730\" data-id=\"144b730\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d2aa040 elementor-widget elementor-widget-image\" data-id=\"d2aa040\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.16.0 - 13-09-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.impactmoneyfinder.ca\/\">\n\t\t\t\t\t\t\t<img decoding=\"async\" loading=\"lazy\" width=\"640\" height=\"160\" src=\"https:\/\/spring.is\/old\/wp-content\/uploads\/2019\/11\/Find-the-right-money-and-support-for-your-impact-business-1024x256.png\" class=\"attachment-large size-large wp-image-79769\" alt=\"\" srcset=\"https:\/\/spring.is\/old\/wp-content\/uploads\/2019\/11\/Find-the-right-money-and-support-for-your-impact-business-1024x256.png 1024w, https:\/\/spring.is\/old\/wp-content\/uploads\/2019\/11\/Find-the-right-money-and-support-for-your-impact-business-300x75.png 300w, https:\/\/spring.is\/old\/wp-content\/uploads\/2019\/11\/Find-the-right-money-and-support-for-your-impact-business-768x192.png 768w, https:\/\/spring.is\/old\/wp-content\/uploads\/2019\/11\/Find-the-right-money-and-support-for-your-impact-business-100x25.png 100w, https:\/\/spring.is\/old\/wp-content\/uploads\/2019\/11\/Find-the-right-money-and-support-for-your-impact-business-360x90.png 360w, https:\/\/spring.is\/old\/wp-content\/uploads\/2019\/11\/Find-the-right-money-and-support-for-your-impact-business.png 1200w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>In the entrepreneurial world, funding is about helping you accelerate scale. It allows you to rapidly increase investment in key areas of the business so that you can move faster than if you funded through your own money and\/or revenue. That being said, not every company is fundable. Here\u2019s what &hellip;<\/p>\n","protected":false},"author":15,"featured_media":80187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30,1227],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Should I bootstrap or raise? How to know if you\u2019re ready to raise capital for your startup - Spring Activator<\/title>\n<meta name=\"description\" content=\"Not every company is fundable. 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