On the TechTO stage ×1
First seen on the TechTO stage in 2021. Every talk is searchable — ask the archive about Tyler ↗
In their words
One thing that I learned from previous startups is that raising money is not the accomplishment that you should be celebrating. It's meeting specific milestones that might enable you to then get that fundraise, to then accelerate all the things that you're already doing.
If you say I can't start a business, or I can't make any progress whatsoever, unless I raise money — you're probably not thinking about your business in the right way.
The best thing that you can do is reach out to them first when you're not asking for something, and build some kind of relationship. Investors want to invest in people that they know, people that they trust.
More from TechTO ×1
Quick answers
Who is Tyler Dikman?
The founder of LoungeBuddy, the app that told travellers which airport lounges they could get into and let them buy access. He built it from 2012, sold it to American Express in 2019, worked at Amex afterwards, and is now an advisor to LoungePair, another airport lounge booking company.
How did LoungeBuddy start?
With six months of research and no code. Dikman and two co-founders had the idea in July 2012 and spent the rest of the year working out whether it was a cool project or a real business — there were no market reports on airport lounges, and the analysts who write such reports did not have the numbers either.
What did he tell founders about approaching investors?
Go early, before you want anything. He said it is easy to get in front of almost anyone once, so use that first meeting to explain what you are building and ask whether they know a founder you should meet — an easy ask that earns a second conversation, which is where a cheque actually comes from.