Hi Alen. I hate when entrepreneurs make generalizations like you need to raise half a million dollars or you’ll fail. I don’t want to ignore how important investment is as fuel but it all comes down to the product and the path to market. Automated could not have done what we did without outside investment, and we raised a total of $11.5 million over three rounds. ExitEvent started with a petty cash approach, and I wound up spending about $5,000 before it started generating serious operating revenue. You can do either or something in between, but there’s no hard and fast rule. In fact, we’re in an era where it’s never been easier to go from nothing to something on a small budget.

Written by

I’m a multi-exit, multi-failure entrepreneur. Building Precision Fermentation & Teaching Startup. Sold Automated Insights & ExitEvent. More at joeprocopio.com

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store