I've been working on a side project and think that I may have come across a really good idea for a product. I estimate that with ~8 months of full-time work I could release it for initial users. Unfortunately, I am not financially stable enough to afford to go that long without income.
I know that this is traditionally where startups turn to FF&F for seed funding in exchange for equity. However, I am uninterested in the hyper-growth that the VC money raising cycle requires.
I've heard quite a bit about revenue share investing (e.g. 5X a $50k raise paid from 20% of profits over 48 months) and was wondering if anyone has experience with this particular investing vehicle for the FF&F seed money round. It seems like a good balance between not having enough for a traditional bank loan and being uninterested in selling equity. Any literature/links would be greatly appreciated as I'm having trouble sourcing any for this particular topic.
Thank you for your time!
But is there any way you can limit the scope for an MVP you can knock out in a month or two of evenings and weekends?
If you can create something that addresses the problem (maybe only a portion of it) that is valuable enough that people are willing to use it, you’ll have a much easier time getting funding.