For the past year I've been running a site that can best be described as "IMDB for concerts". I've achieved a good market fit--bands want what I've built--traffic has been increasing, I've got a lot of good things already in place for the next few months. And I've reached the limit of what I (and my one employee) can do on our own. I'm ready to expand.
I've listed some of the strengths; in my mind there is one challenge when it comes to seeking external money: I don't have a clear, short-term path to revenue (aside from traffic-based ads) and I'm worried that this is a problem for potential investors. [note: I believe this is actually a strength for the site because I can focus on growth and the user experience.]
So what is my next move? Apply to something like YC? Seek angel investors? Wait until I'm further along?
Feedback appreciated.
To investors, they want a clear path to ROI (how long will it take and what is your estimate on how much they will be able to make). Before approaching any investor, you need this. Otherwise, you probably won't be able to get any money.