“If we fundraise less than $1.4M (or at least fail to get reasonably high confidence commitments that we will get more money before we run out of funds), I expect we will shut down”
It seems really strange to have the first goal at $1 million and the second at $2 million when these don’t directly correspond to milestones.
Then again, maybe you’ve got strategic reasons for this.
The $1.4M really isn’t a particularly natural milestone. Like, sure, it means we won’t literally all shut down, but it still implies major cuts. Putting a goal at $1.4M would I think cause people to index too much on that threshold.
And then I do think giving any kind of incremental stop is helpful and the millions seem like the best place for that.
I had actually already read the “we need 1.4M to not shut down”, and still interpreted the breakpoint at 1M to mean “we need 1M to not shut down”. I thought I was misremembering, or that some matching made the 1M turn into 1.4M. I would strongly encourage you to retcon the “first bar” to fill at 1.4M. I think the 1M break unnecessarily hurts your chances of hitting 1.4M, even if it improves your chances of hitting 2M
“If we fundraise less than $1.4M (or at least fail to get reasonably high confidence commitments that we will get more money before we run out of funds), I expect we will shut down”
It seems really strange to have the first goal at $1 million and the second at $2 million when these don’t directly correspond to milestones.
Then again, maybe you’ve got strategic reasons for this.
The $1.4M really isn’t a particularly natural milestone. Like, sure, it means we won’t literally all shut down, but it still implies major cuts. Putting a goal at $1.4M would I think cause people to index too much on that threshold.
And then I do think giving any kind of incremental stop is helpful and the millions seem like the best place for that.
I had actually already read the “we need 1.4M to not shut down”, and still interpreted the breakpoint at 1M to mean “we need 1M to not shut down”. I thought I was misremembering, or that some matching made the 1M turn into 1.4M. I would
stronglyencourage you to retcon the “first bar” to fill at 1.4M. I think the 1M break unnecessarily hurts your chances of hitting 1.4M, even if it improves your chances of hitting 2MI can corroborate; I also somehow read that as 1M instead of 1.4M the first time.