The document outlines 7 steps for developing a product before seeking venture capital (VC) funding: 1) Find a co-founder, 2) Build an MVP or prototype, 3) Promote the product, 4) Get user feedback, 5) Fix issues, 6) Stand out from competitors, 7) Start earning money. It then recommends founders ask themselves 3 questions to determine if they are ready to seek an investor: if they can still develop, grow, and sell the product alone without raising money. If the answer is no to any question, it's time to look for an investor.