Have you ever noticed how business people seem to grow bigger and more successful companies in a quicker time period the more successive businesses they start?
Here's the secret.
They have previously built:
1. An enormous trusted network
2. Have found certain people throughout their journey that they have either partnered with or employed that were outstanding
When they go into the next, or next, or next next venture they validate the business concept through their current network before diving in and then bring with them an entire team to execute the vision.
If there is one thing I know, it's that finding people who are able to make things happen out of nothing are very rare - and when you find them, you need to keep them. They are the ones that will make you successful.
Unfortunately this can only come with time and experience spent in running and building your own business.
If you showed up to an investor with a validated business concept with customer feedback / engagement AND you also showed you had an entire team that had a track record of executing - you would have no troubles raising investment.
Great people are rare, do anything you can to hold onto them.
I know for a fact if you raised $500k to bring on 5 people @ $100k and gave them equity to execute a vision - you'd come to a point whether you knew this was a goer or not. That sounds way better than spending 3+ years to realise it wasn't going to work.
P.s all of my posts are first drafts, my researcher will buff them out — so make sure to write in and ask for extensions or explanations if you are interested.