Weekly 3 Newsletter 10/29/20
1 Quote, 1 Thought, 1 Question
A little inspiration, a little education, a little thought provoking.
Why it’s best NOT to raise money for your startup (or at least do it very slowly):
It’s true that you will retain more equity by holding off on raising capital, but there’s much more to it than that. Imagine that there is a long stretch of road that is your startup. If you raise a good amount of money early on you will be able to drive down that road at a high rate of speed. If you don’t raise money you’ll still go down that road, but you’ll be walking and going at a much slower pace. The thing is the road is full of potholes, detours, turn offs and even sinkholes. No matter what startup road you’re on these all exist and can be well camouflaged.
If you are walking down that road you are more apt to see the potholes and detours before you hit them or miss the turn.
Of course these potholes and detours are issues/problems that come up in your business…. things you can’t see until you are far enough down the road. Missing these issues often end up costing you a lot of time and money and if you don’t see the sink hole it could be the end of your business.
You may think that going faster will make the journey easier and that you’ll reach success faster, but the reality is that going slow gives you a better chance at long term success.
What parts of your life might turn out better if you slowed down?