I pitched a business idea to a few friends and was like, it only needs x money then is profitable in 2 years— never happens in biotech. You need angel...
I pitched a business idea to a few friends and was like, it only needs x money then is profitable in 2 years— never happens in biotech. You need angel raise, seed, series A, 10-15 year timeline. I show them the cost savings for customers and how much I sell for, how many likely sales per year, how much it costs to produce etc— how much profit can pay for even more products and improving the first suite of products iteratively. (Similar products without customer savings sell thousands of units per year; I literally need 10 sales to break even). Every single person was like “how will you get series A?” And I’m like, I don’t need it— I’m profitable. They’re like “what do you mean?” I couldn’t make it any clearer. Everyone wants to know where the free grant money comes from or the investor splurge with the easy exit before the shit hits the fan. Doesn’t even occur to people that you can just make something that makes money 😂
