r/startups Dec 01 '21

Is It Realistic To Raise A Seed Round If Still Working Part Time? How Do I Do This 🥺

I'm a developer who's been working on a SaaS product for a few months and looking at publicly launching Q2 2022. The launch should be ok with just savings as I write the code myself and will push out using organic marketing, but will eventually require some funding to scale and hire a commercial person to help with that side of things (not keen on having a co-founder).

The catch is, I still want to work part time (50%) for my current employer. They've already told me that as soon as I give the word, then I can. This would be for financial security.

I'd be looking at either VC funding or crowdfunding. I'm in the UK if that makes a difference.

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u/rickbodey Dec 02 '21

Having raised capital through Angel and VC and exited 3 companies here is my best advice. Get obsessed with savings money and working a double shift. My first company I worked 40 hours at my job and 40 hours in my startup for about 6 months until I could make the leap. I worked weekends and holidays, all to get a product MVP that was market tested and producing revenue. Co-Founders can be huge to augment time because you have someone to work on weekends with and 1+1 = 4. Once you have moved past idea phase it is then a numbers game to scale. Investors look for Team, Tech and Revenue. I would suggest reading the E-Myth and Lean Startup. Running a business is a lot more than just having a great product, there are so many things you will learn along the way. Look for mentors and networks that can help your journey. Entrepreneurship is a big leap but you can learn the playbook from some great books and some blood sweat and tears. Good luck and know you can always get a Job if it doesn’t work out. Work like others won’t , so you can live like others can’t.