Ask HN: single person startup funding

https://news.ycombinator.com/item?id=3283305

by gftd • 15 years ago

7 10 15 years ago

news.ycombinator.com

Hello, Ive been working on a startup for at least a year. I'm a single person startup. It is a technology/Internet focused company. The product I'm creating is pretty ambitious and large. It is not a typical social network or tools for selling things online kind of website. It is something much more complicated and technical. What is the chance of me getting a venture capital by pitching this product. The product is not totally 100 percent done, but is in pretty tangible shape. I'm in a close position where I can talk to venture capitals. Some of my family members are kind of skeptical that I can get it done, but I trully feel like it is getting closer to be done. Iwould need a large server, some graphic design company to design the logo nd images. I also would need a ad company to create a name, because Im not very good with company names and logo designs. My main focus is bring this product to little more maturity nd sell it fora decent amount or continue to develop it. Funding I.m looking for I think is around 100k.

What is my chance of getting a funding. What would the Vc s would ask. Would they be skeptical that a single person can get it done. What is the chance and steps that could be taken.

Apologies for my grammar/ writing mistakes. I'm writing this on iPad

mudge• 15 years ago

I am curious. What is the product or service?

jaequery• 15 years ago

your chances are slim

BrandonMTurner• 15 years ago

All starts have very small chances no matter what.

Moreover, I think a cofounder would serve you very well based on some of the things you said. (Granted, with few details of your actual product, I could be completely wrong.)

"I would just need a large server" - Another technical cofounder could probably help you with the real scaling problems you will have if you get traction. And sadly, in most technical products, simply having a large server is not enough.

"I would need ... some graphic design company to design the logo and images. I also would need a ad company to create a name" - A creative / design focused cofounder would be of really great use. This is going to cost you a lot of money you probably don't need to spend.

"I.m looking for I think is around 100k." - A business knowledgable cofounder could really ground you here. A VC would not do a deal this small. That is not interesting to them at all. A seed investor, angel, super angel, whatever they are called might be interested but it would really help decide to invest in you if you have someone that has a real grasp on business projection and how much money you will really need.

gftd3• 15 years ago

Thanks for your answer. Your answer is close to what I was thinking. It confirms it.

kayhi• 15 years ago

Chance would put close to zero - ideas to improve it.

Finish the project. Get a logo and name, you can change them. Get some traction.

Why do you need funding? What is the money going to be used for?

abbasmehdi• 15 years ago

>Some of my family members are kind of skeptical that I can get it done

Most people who tell you something can't be done are saying it because they don't want you to do it, people who truly want to see you succeed will tell you how to overcome your weakness or carry on despite it - they will never want to deter you by saying it can't be done. This is a personal observation - so don't let anyone shape your opinion there.

Secondly, VCs don't give just a 100k (thy usually give a million plus), angels do smaller rounds - get on AngelList or something similar.

Why do you not have a cofounder? (your posting screams you need one).

gftd3• 15 years ago

I don't have a cofounder because I don't think there are a lot of people that are on the same page as me around here. Most of them might not be interested and won't devote a sufficient time to the project. I thought I can get it done faster and without hassle. I know all the code and cofounder might slow it down a little bit.

Thank you for your answer. Your answer helps.

rush-tea• 15 years ago

My suggestion would be that since you are a single founder, the best would be to finish the very minimum viable product that can attract your potential investors. if you think a graphic design is required, then do it. You can outsource logo design cheaply to Asia. Logo design would be something that is more on creative side, imagination doesn't require education, so everyone is a genius if they can pour their imagination into black on white, vs if you are thinking of outsourcing technology development.

as for large server, have you look into AWS? Amazon Web Services is an excellent server solution, Yelp is using AWS. I read somewhere that one of the things that Facebook regrets is that they invest on their own data center vs doing a cloud like in AWS.

gftd3• 15 years ago

I looked into AWS, but I think in the end I would have to have my own server that I can manage. Thanks for your insight.

chris_dcosta• 15 years ago

Doing the server thing yourself? You will be getting into a whole different ball game with your ISP! And that requires a decent revenue stream.

Please take the advaice, even the biggest players out there are using AWS, it's just a far simpler solution for a startup.

Ask HN: single person startup funding

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