At what point after you started the business did you start to look for funding?
How did you raise the initial funds to get it off the ground? What did you use the money for?
When did you realise you needed more money and for what?
Were you ever worried about going over budget/how did you ensure the money you raised was used in a focussed manner? 
If you’re paying attention to what customers want, there comes a
point when you find that spending a certain amount of money enables you
to bring a certain number of customers on board. And if your business is
able to do this, ie, spend less to acquire each customer than they pay
you – then it starts to make sense to invest in trying to do more of it.
You can also start to make connections between improvements
in the product and marketing and resulting improvements in customer
acquisition rates and costs. So it makes sense to invest more in both of
those areas too, to bring down next month’s acquisition costs.
Smart investors know that no-one will ever have built a
company exactly like yours. And the reality is most successful
entrepreneurs are first-timers (as are even more unsuccessful ones!).
That means you’re going to make a lot of mistakes – and that’s OK by the
investor – but you need to make sure they’re not expensive ones.
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