1b:I[3821,["874","static/chunks/874-5853b36c417a5f43.js","598","static/chunks/598-8e8b350c69b61725.js","735","static/chunks/735-5d5145bb0f79dc16.js","881","static/chunks/881-64080935572a77c4.js","671","static/chunks/app/%5Blocale%5D/submitted/page-9972e6b84e2d7c4f.js"],"default"] 1c:T7ba,hey guys so I have narrowed it down to 3 or 4 domains with functional MVP. I had about 10 but I really asked is this a vitamin or a painkiller and was able to narrow it down to a 3.

I want to raise money to hire 1 engineer to polish up the MVP and be the go to guy for changes.

I want a sales guy who will work on base salary and 15% comission.

I want a marketing guy who will spin content and accountable for inbound lead generation.

I am located in Vancouver, BC. Here's why I think Vancouver is a great place to start, #1 salary is super cheap because of the exchange rate. I don't need a 100x engineer. I already laid down the bare paths and need a few more bodies to help maintain the ship.

So about how much I need to raise I'm thinking to cover salary:

1 intermediate engineer = $65,000 CAD / year = $48,888 USD / year.

1 sales guy + SDR intern ($10.25 cad/hr minimum wage in BC) = $45,000 CAD / year + 15% comission cap + $21,320 CAD / year for SDR intern = 66,320 CAD / year = $49,890 USD / year.

1 marketing guy = $35,000 CAD / year = $26,000 USD / year.

So all together salary burn rate is $124,778 USD / year.

$10,398 USD / month + rent + supplies = $12,398 USD / month.

So roughly 13k USD / month to upkeep with 1 year of runway will be $156,000 USD. I want to target 1 million USD in sales in that period.

These are all B2B SaaS products that I've been able to spin off from my main SaaS that I've been working on for 2+ years alone.

No free plans, no $19.99/month, charge money and earn revenue from day 1.

Is this a realistic figure to raise in the beginning? What local meetups should you attend? Do you think it's

Submissions by jorgecurio

Ask HN: Raising money for the first time, any tips?

Ask HN: Raising money for the first time, any tips?