Before you completely eat me alive, allow me to clarify:
– We have national and local brand interest
– We have verbal comittment of funds being allocated waiting for corporate approval
– We have an MVP, we are about to start private beta
– We have accumulated ~2,000 hours effort + $10,000 cash
– There are some competitors in the space but we have a HUGE advantage in one market segment.
But we NEED a salary. We have pretty much ran out of our own money, my tech cofounder had to get a full-time job (just started) and I will need to as well.
We have began aggressive fundraising, I’m paranoid that we won’t be able to raise without any REAL traction yet.
1. How do I calculate value beyond 2,000 hrs x $200/hr = $400,000 + $10,000 cash = $410,000
2. If we’re looking to raise $250k – $500k how much equity should we be giving up?
3. What else can I do to get money before we run out?
Thanks for any insight.