In last 2 weeks, I spoke to 8 healthtech. startups
who were looking to raise pre-seed funding.
❌ No product. No clear ICP. No traction.
❌ Just an idea of building an app
❌ Looking for funding to invest in building the tech.
Their strategy:
Get funded —> Build a product (prototype) —> Launch —> Sales
I had to be the bad guy and
give them a reality check.
But I also showed them 4 things
they can do NOW (for less than 500$) - to create traction.
Something investors would love.
Here’s what they were:
▶︎ 1. Find Your ICP (Ideal Customer Profile) – Cost: $0
Before you build anything,
you need to know who you’re solving a problem for.
This means:
- Talking to potential users
- Understanding their pain points
- Understanding their dreams and fears
- Asking: Where are they stuck?
Most founders skip this. Don’t be that founder.
▶︎ 2. Create demand via LinkedIn – Cost: $0
Learn: Are strangers willing to talk to you?
About the dream and problem you uncovered?
Use Linkedin
(or whereever your customer hangs-out online)
- Connect with them
- DM them the problem you are solving
- Get them on call
If they are willing to get on a call -
they care for the problem.
Else, go back to Step 1
▶︎ 3. Build a wait list – Cost: $50
Create a landing page and tell them
you are launching the product
that solves their problem.
You can do couple of things:
- Create a waitlist
- Ask them to book a demo
- Pre-order
Drive traffic to it using LinkedIn, Reddit,
Quora, or Facebook groups.
▶︎ BONUS: Sell a SERVICE first
Think about it. Can the problem you have
be solved with a service you can offer?
It does not has to solve the problem fully.
Partial relief is enough.
And can you ask them to pay for that?
This will prove that ICP is willing to
spend money for the problem you are solving.
So by the time you approach investors, you’ll have:
✅ Deep understanding of ICP
✅ A working funnel
✅ Money in the bank account
✅ And a great story of traction created under 500$
Because investors fund traction and team, not ideas.
DM me “SHOW TRACTION” if you want to learn
how you can do this for your business idea.
entrepreneurship startup funding
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