Venture capital is not the secret sauce for startup success. The product you’ve built is. > Is it solving the problem you said it would? > Does it bring joy to your customers? > How quickly is your target audience adopting it? In this climate, you’re not even likely to secure VC funding without showing traction in the form of revenue (especially as a pre-seed founder). In the first year at Connectd, we were generating bits of revenue through beta testing groups and personalised product packages for our early adopters. So not only did we make sales but we also received indispensable customer feedback. Just remember that venture capital is there to accelerate something that’s already working. It’s not a means to an end. What do you guys think? How vital is venture capital for startup success? #Founders #VentureCapital #Startups #VCFunding
Venture funding is a means to an end and only then for a small proportion of start ups. Just because your business is not “venture backed” does not make it a “bad” business.
How you answer this depends so much on what you see success to be. You can achieve impact in the world / for your customers and a life-changing sun of money without it, so it shouldn’t be your only imperative Roei Samuel. As you say, it will only speed up already great businesses.
Confinity — Connecting humanity for generations 💫 حرية فلسطين
5moAvoid VC until you have substantial traction & know what you are doing (can show 100x returns). Terms are filled with landmines too (based on conversations with fellow founders). Crowdfund or find an angel syndicate instead - only work with those who are aligned with your vision and can actually support you 🤗 So many ways to raise funding - follow Simon Squibb/ Jonny Boyarsky for best advice - I believe Eva Dobrzanska does one on one training too. props to Simon for sharing his wisdom here - he has seen it all. https://www.youtube.com/watch?v=9VlvbpXwLJs