Have you done everything possible to acquire customers and build the product and are just limited by funding?
If yes, fundraising makes sense. If no, what steps can you take to show early traction and further validate your idea?
Do you have a skateboard product operational?
If yes, are the early results from the skateboard product interesting to investors? If no, investors will want to see traction, how can we get you to that point?
Do you have a specific reason for raising?
If yes, fundraising makes sense. If no, we want to get you to a point where fundraising is critical for growth i.e. you’ve done significant validation and need funding to aggressively target a specific SOM in a specific way. Investors want to see where their money will go.
Do you see a scalable version of this business?
If yes, fundraising may make sense - particularly if you’re picturing horizontal expansion. If no, bootstrapping is a better way to approach a cottage type startup.
Do you have a compelling market size with strong growth trends?
If yes, investors will be more interested. If no, it will be a tougher sell.
Have other companies similar to yours received funding? Were they successful?
If yes, is there still room in this market for you? If no, is there a reason why investors haven’t invested yet.
Can you build this company without fundraising?
If yes, build it. If no, raise.