#BIKESTARTUP is a scrappy, in-the-trenches guide designed to turn your idea into a full-fledged bike business. We’ve covered customer research, prototyping, manufacturing, and raising money without investors. Now let’s talk real money.
The last six months on the fundraising warpath was one of the most emotionally challenging experiences of my life. If you can start and grow a business at a speed that makes you happy, then don’t raise money. There are many fundraising options, like Kickstarter, that don’t require investors. But if you’re ambitious (read: impatient) and organic growth is not fast enough, then fundraising is the startup steroid you need.
When I say raising money I’m not talking about borrowing $20K from your friend’s rich dad. I’m talking about finding experienced, professional early-stage angel investors and venture capitalists (VCs), who will inject funding into your company and expect a big return. And believe me, this looks nothing like an episode of Shark Tank.
Here’s what we did to raise money…