65. Fundraising For Non-Technical Founders

Many investors view non-technical founders as more risky. Sometimes this is plain silly, but there are legitimate investor concerns that non-techie founders will make costly mistakes that technical founders will not.

The answer is not to learn to build the product with your bare hands, but to know enough about tech to have a product strategy and relate it to business goals. 

Learning notes from this episode:

• “You can be the ripest juiciest peach in the world, and there’s still going to be somebody who hates peaches,” - Dita von Teese. Some investors don't invest in non-technical founders and they never will. There are plenty of those who do. Spend your time on them.
• Learn how to connect product metrics to business metrics, for example how does user engagement relate to revenue or fundraising goals?
• Understand key tech concepts to make the right hires and set the right goals, but you do not have to retrain to become a coder yourself.
• Plenty of non-technical founders have raised millions and built successful tech businesses. You can hear them on this podcast. Learn from Alexandra Zubko, who has built a global SaaS business called Triptease with two other non-technical founders, and raised $28 million to date. Hear from Robyn Exton, a non-technical founder and Y Combinator alumna, who has built HER, a dating community for queer women. 
• Listen to Tech for Non-Techies episodes with non-technical founders who have built AI businesses, content platforms and marketplaces, and have been backed by VCs and angel investors.

 

If you want to buid a tech business, but don't have a technical background, then join Break Into Tech: Masterclass For Non-Technical Founders here. 

 

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