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I hear it often. The founders said they are raising funds to extend their launch from 18 to 24 months. In a sense, that’s correct, but only from a beginner’s point of view. However, that is not what an investor wants. It is not a fundraising goal that will keep your company alive for a year and a half; This is a side effect at best. It’s probably a good estimate of how long the company’s next phase will take, but only because that’s the time horizon you can semi-reliably predict in 18 to 24 months.
But what happens at the end of those 18 months?
Instead, founders should let investors know what funding will unlock. That is expressed in terms of elevation, not time. The goal is to change the company enough that you can do something that you can’t do now.
How much to collect?
How do you know how much money to raise? It’s a tough question, but it’s an important aspect of your startup journey. Establishing a clear and realistic fundraising goal requires careful consideration with one goal in mind: What hoops do you need to jump through in order to raise yours? next to Funding round.
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