Not a bad strategy. I have already started a company which has been my number learning experience. I definitely know what I would do differently. Just to clarify the venture was not a failure, but also far away from being a "big" startup (read: slightly cash positive). My number 1 piece of advice (although I don't know how much it is worth) is to network. It is crazy how mindless some investors truly are. It seems if you can get 1 person with a pretty big name in the tech industry behind your project, you can get the whole gang. Obviously you need a great product, but it seems the true value in startups today is the name.

Are you the business or engineer side (or both)?