Back to the Garage Basics
Way back when startups were started in the garage, ran on founder’s credit cards, begging family and friends to give them 2, 5, 10k to get their idea off the ground.
Now most times I speak to a founder CEO w an idea they tell me how they will be the next unicorn; I’ve even heard a 2-man shop use the word deca-corn recently. I almost slapped him.
It seems the amount raised is the victory. I’m partial to great products, rabid employees, customers, and revenue myself.
I recently connected w an old friend who told me he his new startup just raised 20+mil on his seed round, I said “did you say C round?” nope.
Look, don’t get me wrong. It takes money to build great company and products. I need capital for all of the projects that I am working on. but TOO much TOO early ruins what makes startups great:
Laser focus on the true Minimum Viable Product (MVP), scrappy search for validation, founders working for sweat equity, psycho focus on revenue because you need it to stay alive. Too much money too early means you skip over the best part of startups. Why I blame Facebook is next.
#venturecapital #startups #success