People talk a lot about the need for fundraising to be succeeded. It could be from a VC or Angel Investor. Money always helps, we can’t deny that, but is the obsession about fundraising good?
I never spent too much time if that. I always had fought far way of having something that I could sell, or in this case, be funded. The majority of the entrepreneurs just think on that. I had some personal experiences, but I was sure after reading a quote from Arthur Rock – great entrepreneur and succeeded investor.
At a presentation I gave recently, the audience’s questions were all along the same lines: “How do I get in touch with venture capitalists?” “What percentage of the equity do I have to give them?” No one asked me how to build a business!
There are many ways to achieve an investment, there so many that this topic deserves a particular post. Despite all that, the important fact is that you MUST FOCUS ON YOUR WORK before start thinking about investments. Without a great product, you can fundraise, but I’m sure you will not go so far after that.
The process of fundraising, usually, is slow. Is better to have your business in a stage that it will not need you that much. You will need to prepare yourself. The required skills to succeed also deserve a single post. At the begging of your Startup, the moment I’m facing now is time to FOCUS ON THE BUSINESS!