We are planning to go through an early round of investment. We refer to it as F&F but more likely will include acquaintances and referrals through our network.
We are planning to put together a business plan and other documents to show to them, but we are also trying to find investors who can make the project expand.
We expect these investors to make connections, open doors to get meetings with potential clients, provide guidance and knowledge to the industry.
When described like this, it sounds more like we are looking for advisors who also invest at this very early stage.
The goal of this round is to speed-up the discovery of a product that can serve the entire F&B, and may be retail, industry(ies) in the future.
There could be a later round once proven there is a viable product when the need will be to scale operations fast.
At this stage, how much vetting would you do?
Have you approached investors as if recruiting team members?
How do you convey to them their "obligations" including those I mentioned before? And then how you make those commitments materialize?
How do we avoid starting with very high expectations just to end accepting someone who simply writes checks?
What I am not asking that I should be considering?