Have a startup idea but sweating about raising funds for your business?
In this post, Vishwas Mudagal a serial entrepreneur who has built some successful startups from ground up gives you some thoughtful startup advice to help you get your engines running in the right direction.
Everywhere I go, startup folks are usually talking about getting funded.
It’s become an industry wide status symbol to raise funds. Media has played a huge role in this frenzy.
This is sad state of affairs. You don’t start a business to get funded! That’s a horrible way to build a great company.
Getting funded doesn’t mean you have won the game. And if you don’t, that doesn’t mean you have failed. It’s really sad that I meet such talented entrepreneurs who feel miserable because they haven’t raised funds yet.
Why not focus on building a solid product or service with a good revenue model?
Why not get traction, get some key customers & cash flows in place instead of sweating about funding all the time?
I know many startups who have wasted valuable time chasing investors. Don’t get me wrong. I’m not against raising funds. All I’m saying is build something that is tangible first & then raise funds. Better, investors will be keen to invest with better valuations.
Bottom line is – Walk a mile proving the business model, instead of jumping into raising funds. You are not going to be rockstars just by raising funds.
Raising funds is just one aspect of entrepreneurial journey. It’s not to be mistaken with achieving success.
Do you agree? If you have faced any challenges with your startup, let us know in the comments section below and we can help you out.