How to Raise Funds for a SaaS Startup if You’re Shy (Introvert)
Maybe shy is not the right word. Let’s say raising money guide for introverts.
So, here is the story.
“I’m a software developer that would like to raise funds for a project I’ve been working on.
It took me two years to prove the technical aspects of the software and I believe it’s time for me to jump into creating a business from there.
The thing is that I’m shy to go and reach investors which makes me doubt if I should raise funds or just slowly keep improving the software until it becomes a business.
Can I ask for some recommendations?”
As always I have strong opinions about these scenarios!!
First, you spent two years of your life on the “technical side of the product”?
What does it mean?
Were you iterating?
Doesn’t look like you have any customer base.
It seems that you are just building something in a bubble and now ready to raise money.
How much do you want to raise to do what?
You should really know by now when to raise money, right?
I mean there are tons of articles about this online.
Just fucken read before building shit!
You ONLY and ONLY raise money to fast-track scale!
This means, there should be some level of traction, ideally, some paying customers, so that you can raise money to fix onboarding, marketing, paid ads, partnerships, hiring etc.
Wasting your own time for two years building something that even you are shy to talk about it with investors.
Let’s be brutally honest.
If you are building something awesome, even if you are an introvert, you talk about it with EVERYONE!
If you are still shy about it, it’s not good enough.
And you know it.
Plus, the role of a CEO is:
- Raising money
- Interviewing potential customers
- Selling customers
- Hiring folks
- Managing and firing folks
If you are shy and cannot do it, you are not qualified to have a startup.
Better to focus on your corp job.
If you hate the phone or face-to-face due to social anxiety, send emails.
Create king content.
Put yourself out there no matter how uncomfortable it is.
There have never been as many options for companies seeking to raise debt or equity capital.
On the other side, there are so many startups looking to raise capital and it becomes very hard to get investors’ attention.
At the time of writing, California-based startups could raise close to $90B in the capital only in 2022. But the fact that if you are a first-time founder and struggling to navigate the process — Capitaly can prepare you in the investors’ eyes.
Talk to Capitaly today about the essential role that our platform plays in enabling startups to take this leap.