I have built an MVP + have at least one LOI discussion with a large enterprise client in pipeline, can you guys critique my approach to launch
Hello guys,
A lot of advice online seems to always tell entrepreneurs to bootstrap and not take VC money.
I got an MVP going and was even lucky to have set up at one discussion with a $100MM+ potential client. ($100MM is the clients size, not how much my firm will make)
The thing is, I don't want to launch yet, I want to raise VC funds so I can quit my job and work on this full time.
I've seen other posts saying LOIs don't mean anything but given that our current pipeline is literally 1/1 (the first company we reached out to was receptive), i think I really have something here.
Is it literally impossible to get funding from a VC firm with one LOI from a large client (assuming they sign) or do they need like 100s of LOIs to take a person seriously or do LOIs not even matter at all.
I am completely open to critiques, is there something I am missing?
the LOI is non binding
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