Today I want to talk about how your identifications can affect your fundraising strategy.
One thing I've noticed when working with entrepreneurs is that often times we have these big ideals and goals to be that next game changing entrepreneur. Many entrepreneurs want to be the next Steve Jobs, Elon Musk, etc. Or they want to work with the big funds like Andreessen Horowitz, Sequoia Capital, and other top funds that get all the press headlines.
Often times our attachment to our own game changing identification as an entrepreneur - or our attachments to certain funders or investors - can significantly limit us from finding the right investors for our company. Today we want you to take a realistic view of where you are as a company.
- Your stage of company
- How far along you are
- Have you established product market fit
- The type of enterprise that you are
With this information, we invite you to wonder about "where are the places that I can find money or capital that is most aligned with where I am now?" This is going to save you time and it's going to open you up to creative possibilities that maybe you weren't thinking about.
As we let go of our own identifications of ourselves and open up to what is best for our companies, we may just find the perfect investors have been there all along. You might also realize you don't need to fundraise at all, and your chance of being cash positive is staring at you like a jaguar through the leaves of the Amazon jungle.
Cheers to your financial sustainability - The Good Startups Team