On an almost weekly basis, we talk to a founder who comes to us feeling defeated after a conversation with an investor. We often hear a version of the following: “Investors are telling me they need to see a product, but I need capital to build a polished product, what am I supposed to do?” On the other hand, it’s not unusual to hear about a team (usually male-led) that gets a wild amount of funding based on just an idea on a napkin.In this article, we set out to elucidate how to get investors excited about an opportunity at a stage when there is limited hard data to evaluate a company’s growth potential. And we focus on the following question: How can I appeal to investors if I don’t have a built-out product, especially if I’m not a software engineer?
@katiedoherty9, yes the perpetual chicken and egg problem :) I found your article very informative. Really liked the pointers on Bubble, letter of intent and concierge pilots. Thanks for sharing.