Recently Bimal Maharjan shared the story of his startup, 11Beep on YourStory. It’s an honest and introspective account of building a social network (startup) from Nepal.
You should definitely read the whole article. Here’s a few bytes from it.
To raise money you need a product with traction and to build a product you need money.
Build the product first. Knock at your friends’ doors for help. Beg, borrow or persuade people to join you, get some traction and validate that the need exists. Do whatever it comes to build the product.
One great thing about knowing the best people in the business is that they always know other people who are as good.