For everyone else, work in your product and speak to your customers. It contains only the essential knowledge most founders will need. The data comes from my experiences working at startups, investing in startups, and advising startups at Y Combinator and Imagine K12. YC partners naturally gain lots of fundraising experience and YC founder Paul Graham has written extensively on the subject 1, 2, 3, 4. His essays cover in additional detail a lot of what’s contained in this guide and are extremely beneficial reading.
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Often at this stage, funds are acquired by way of friends and family members. Plus, this stage is also often used to pitch a startup thought to those interested in financing your idea. The startup plans to use the funds to increase its team dimension, acquisitions, and develop its know-how and operations.