georgios22
New member
How would you navigate my business's current situation?
1) got into an accelerator called Pioneer in July. Didn't have a product when we started. Three cofounders that are all roommates. We used the angel investment to have our best dev go fulltime.
2) Have made steady progress and have had a functional product for the last 8 weeks. It is a quickly built infrastructure tool so it is buggy, unstable, and churn is high. We have had ~50 users, 5 have gotten real value, and 2 use it consistently. The 2 that use it consistently are almost done with their trial period and should convert to paying customers. We have gotten feedback from most of our churned users and it was along the lines of "product doesn't work quick enough and it is unstable". We are fixing those issues as we speak.
3) So we just got the post YC interview rejection email so obviously no $500k of runway. At this current moment we have 3ish months of runway and I'm sitting here debating my best course of action.
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A) Grind it out the next 2 months... increase userbase, make product work better and faster, and patch our leaky bucket THEN try and get pre-seed funding
B) Have our one fulltime dev transition to part-time and pick up a consulting job, address everything in point A (over 6 months instead of 2) and then try for the S24 batch
C) Hunt down some angels to increase runway another 3-6 months then apply to S24 batch
D) Can you get pre-seed funding and also apply to YC but negotiate a smaller financial investment?
E) Deliver a ton of value to a ton of people so we can financially float on our own (the least practical)
Anyways, these are some of the options I'm pondering. Any and all feedback is appreciated
1) got into an accelerator called Pioneer in July. Didn't have a product when we started. Three cofounders that are all roommates. We used the angel investment to have our best dev go fulltime.
2) Have made steady progress and have had a functional product for the last 8 weeks. It is a quickly built infrastructure tool so it is buggy, unstable, and churn is high. We have had ~50 users, 5 have gotten real value, and 2 use it consistently. The 2 that use it consistently are almost done with their trial period and should convert to paying customers. We have gotten feedback from most of our churned users and it was along the lines of "product doesn't work quick enough and it is unstable". We are fixing those issues as we speak.
3) So we just got the post YC interview rejection email so obviously no $500k of runway. At this current moment we have 3ish months of runway and I'm sitting here debating my best course of action.
----------------------------------------------------------------------------------------------------------------------------------------------------
A) Grind it out the next 2 months... increase userbase, make product work better and faster, and patch our leaky bucket THEN try and get pre-seed funding
B) Have our one fulltime dev transition to part-time and pick up a consulting job, address everything in point A (over 6 months instead of 2) and then try for the S24 batch
C) Hunt down some angels to increase runway another 3-6 months then apply to S24 batch
D) Can you get pre-seed funding and also apply to YC but negotiate a smaller financial investment?
E) Deliver a ton of value to a ton of people so we can financially float on our own (the least practical)
Anyways, these are some of the options I'm pondering. Any and all feedback is appreciated