(Contributed by Gordon Daugherty, Capital Factory President)
Hopefully you are reading this before you decide how much to raise. I’m referring less to very early seed funding just to get your MVP product built, which in many cases costs little or nothing, and more thinking about raising money after your first prototype product is built and/or your initial validation is completed. But the basic concepts outlined in this blog post apply to all fundraising stages.
If you’ve already decided and communicated how much you are raising, you might be getting the obvious follow-up question: “Why is that the right amount?” How do you answer? What was your logic in determining the amount?