Launched marketplace for diving experiences, still haven't secured a seed round and running out of money. What should we do? My wife and I have been working full time on this for 6 months and spent most of our accessible savings on the startup. We still don't have more than a handful of bookings and we started raising money a bit late (only 1 month ago). Should we get a job and continue looking for funding? Should we shut down? Other options?
Investors fund businesses that show promise and a handful of bookings wouldn't cut the deal. How are you going about marketing and branding it?
If you have a strong website that offers flawless experience, then, the right marketing strategy can be the game changer to attract the target audience as well as investors. If you can share what you have been doing in the past 6 months, I can list out the ones you are missing out on.
To get out the tight spot, I would recommend that one of you should get a job and the other one continues working on the startup. If you truly believe in the idea and there is no market leader, then, don't shut down.
Look for other sources of raising money. Good luck!
Answered 5 years ago
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