I’ve had a number of earnest entrepreneurs contact me who think they should raise venture capital but aren’t remotely ready.
You shouldn’t even take a meeting with a VC let alone seek them out unless you:
You shouldn’t even take a meeting with a VC let alone seek them out unless you:
A. Have raised $1-2 Million in small checks. ($10,000 and up) OR are cash flow positive.
B. Have a realistic and legitimate shot at a $1 Billion valuation within 10 years. (Validated by experienced entrepreneurs)
C. Have a business experiencing rapid growth. (100% YoY)
B. Have a realistic and legitimate shot at a $1 Billion valuation within 10 years. (Validated by experienced entrepreneurs)
C. Have a business experiencing rapid growth. (100% YoY)
D. That growth directly requires more capital (e.g. proven unit economics that require customer acquisition cost)
E. You are ready and willing to sell the business in 5-7 years.
F. You want to run a professional board and finance function.
G. You want a boss (your board)
E. You are ready and willing to sell the business in 5-7 years.
F. You want to run a professional board and finance function.
G. You want a boss (your board)
Bootstrapping is a far better option to create wealth and build the life of your dreams for most people.
VC rocket fuel is for crazy ambitious moonshots.
Be honest which one you are.
VC rocket fuel is for crazy ambitious moonshots.
Be honest which one you are.
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