It’s almost two years, we started Mealnut. After couple of iterations, we pivoted to what it is now: a discovery platform for people to discover, buy & sell home made delicacies from housewives, chefs & enthusiasts. In those two years, we raised 14lacs in equity and 3lac in debt from angel investors in India. Here are some of the lessons we learnt:
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Look for the angel investors who believe in you, your idea and problem you want to solve. Investment is just a by-product and you make good friends too.
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Don’t go out of your way to please anyone, even investors, except your customers.
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Take your chances, help comes from unexpected quarters most of the times
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Some entrepreneurs turned investors might give you advice which is far better than money.
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Don’t budge to the requests for detailed financial projections, it’s too early. At early stage start-up, no one knows what’s gonna happen for the next 10 days. It’s huge waste of time.
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Don’t give up just because you have no money at all.
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Small debt is also not bad if it gets you out of the situation.