Is a question I get a lot.
Here is my blunt answer.
If you are confused about raising VC money, please don't.
Avoid it like a plague.
Throw it back if it falls in your lap, like you would throw back a live grenade.
Why?
VC money should be raised only if you have, both, the motivation and a plan to dominate your space.
The plan may or may not work, or may go through 10 pivots.
But the desire/intent/motivation should be to dominate before you raise VC $$
Because a plan to win/dominate almost always (99.99%) needs venture capital - to run fast, and scale and be #1
So if you are doubtful whether you should raise VC money, the reality is that you likely don't have the desire/plan to dominate.
Which is absolutely ok.
You might be happier for it.
You might have a better plan..
Or maybe you just dislike that game..
But if raising VC$$ is not a "hell yes" you should absolutely stay away from VC money.
There are many ways to make a successful business without a plan to dominate.
And many ways to build that business without VC money.
A bad place to be is to have capital( investors) that wants to chase IRR that comes from domination, while the founder doesn't have the desire/plan to dominate
Save yourself the pain.
Raise an angel round instead from very patient and supportive angels.
Or bootstrap.
Or fund it with your day job.
Or get creative.
There are a million ways to win.
But a fish trying to climb a tree is destined to fail.
PS:
I know there are exceptions
All generalisations are false
But don't make decisions based on exceptions.
Stick to the rules.
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