At Warby Parker, we ask ourselves a number of questions when deciding whether or not to partner up with a designer, or a nonprofit or brand. Is the potential collaboration new? Is it unexpected? Will it result in something worth talking about over dinner? Will it do good? Will it introduce us to a new audience?
Regardless of what you plan to use it for, the goal should always be to raise money right before you need it. You don't want to get into a situation where you need cash and you're unable to raise it - or you're unable to raise it on favorable terms. As with any negotiation, you want to raise from a position of strength.