Based on my experience helping entrepreneurs raise money, there is no stage that is right or wrong. In fact, some of my most successful clients have raised $700,000 to over $1 million before generating any revenue at all.
If you have a compelling vision and a clear plan for how you’ll grow the business, you can raise money even if you’re at a very early stage. On the other hand, I’ve had clients who have been in business for many years and also have raised several hundred thousand to millions of dollars for expansion.
So, no matter what stage your business is at, you can raise capital from investors. You just need to make sure you connect with the right ones and avoid wasting time with the wrong ones.
My only caveat is that if you’re at such an early stage that you don’t really know exactly what your business does, how it makes money, what expenses it will have, etc., then it is too early for you. You need to be clear on your basic business model before you design your capital raising strategy and reach out to investors.