Key points and highlights from Andrew Lockley's presentation “Why you shouldn’t raise investment seriously, it will kill your business!”
Take money from customers not investors for as long as you can.
Investment can really stifle your hunger for customer acquisition and, if that happens, are you really running a business?
Alternatives to raising funds: offer a service and develop your code base this way, build your product behind.
Alternatives to raising funds include managing cashflow better: pay slow, get paid quicker.
Cut your costs - £1 saved = £1 on the bottom line. This is unlike sales where you need to pay out a cost per acquisition so £3 of sales = £1 on the bottom line.
If you do raise investment choose investor first, investment second.
Very importantly: don't waste money raising rubbish tech! Do your research.