Too Long; Didn't Read
Angels and VCs are not trying to be Fortune Tellers who can predict the future, as much as we want to. Our immediate goal after investing in your seed round is that you get to your next round by hitting your numbers/projections in around a year so. With momentum behind you, you can then spend the next 3–6 months raising your next round with money still in the bank (so 18 months in total). This is where the term “runway” comes from — how much time do you have before you run out of money.