Starting up Mint

The straight shot: why should you raise money, and how much?

  • Step 1: When you're ready with an Idea: Raise $100K from friends and family, and use it to build a prototype.
  • Step 2: Once the prototype is done: Raise < $1M in seed capital, and get into market with an alpha launch.
  • Step 3: After that initial launch has traction: Raise $5-10M, and use it to prove/scale the model.

Garage phase: what are the costs and milestones? (MINT's first $100K)

  • Founders: $30K/year living expenses
  • Engineering 1st hires: $30-50K/year
  • Office: $400/cube/month
  • Tech: $10K
  • Legal: Deferred payments for 0.50 - 0.75% of company

Src / Src

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