What is your funding Plan B?
Most founders think they are fundable when they are not. The fundable ones think
they'd close in 3 weeks.
The reality is often different, illogical, beyond your control, no fault of
yours - but the reality is most rounds don't happen, they take way longer, they
fall apart, and a lot more.
It's painful, unwanted and a massive waste of time and distraction from building
your business.
But it's real and it happens to the best of teams.
So it will happen to you as well. Guaranteed.
The only solution is to have a Plan B for your funding - a smaller round, a
revised runway by reducing costs, a changed roadmap until metrics are fixed and
more -- or a combination of all of this.
But do not start your fundraising process without having a Plan B so you are
less stressed and far more confident running the process.
Leverage is everything like I've said before.
Plan B is your leverage in the fundraising process.
#fundraising #founders #venturecapital #startups
Posted by Vaibhav Domkundwar on LinkedIn
link: linkedin.com/in/better
Most founders think they are fundable when they are not. The fundable ones think
they'd close in 3 weeks.
The reality is often different, illogical, beyond your control, no fault of
yours - but the reality is most rounds don't happen, they take way longer, they
fall apart, and a lot more.
It's painful, unwanted and a massive waste of time and distraction from building
your business.
But it's real and it happens to the best of teams.
So it will happen to you as well. Guaranteed.
The only solution is to have a Plan B for your funding - a smaller round, a
revised runway by reducing costs, a changed roadmap until metrics are fixed and
more -- or a combination of all of this.
But do not start your fundraising process without having a Plan B so you are
less stressed and far more confident running the process.
Leverage is everything like I've said before.
Plan B is your leverage in the fundraising process.
#fundraising #founders #venturecapital #startups
Posted by Vaibhav Domkundwar on LinkedIn
link: linkedin.com/in/better