Live frugally so you can invest in your dream. Treat your investor’s money like it’s yours.
Don’t buy the $2,000 office chair. Get the cheap one from the used office furniture store. Stay at the Hampton Inn, not the Downtown Hilton. Fly coach. Focus on the things that add value like R&D and marketing. Outsource the rest like payroll and accounting.
Cash is king. If you run out of it, they turn the lights off. Marketing is as important as R&D. Save some cash for both.
If you need to raise $2 million what could you do with only $1 million? Or $500,000? Or $25,000? The most expensive money you will raise is the first money. Have a plan for every dollar.