There goes the Fake it till you make it mentality...
The advice I give to founders raising money for the first time — to first ask yourself "are we actually a good investment?" and answer honestly — also applies to later rounds. Don't sell. Tell the truth, and let investors read it through you.
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This essay helped me depersonalize the fundraising process and soften the sting of a pass early on: http://www.paulgraham.com/judgement.html
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This is an AMAZING article. Thanks for posting
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How did founders of "best ideas initially sound like bad ideas"-companies conclude they were good investments?
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The founders themselves saw these were good ideas, so they simply had to explain what other people were missing.
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To be honest, we are! Have a look at http://localites.co How it's becoming a global community.
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What Big things are you working on Paul, from a social justice perspective? I am wrangling together an Engineering for Social Justice class for High & Middle schoolers
@WinooskiLearns, a super resilient and under-resourced public school in Vermont. I need engineer-collaborators!Thanks. Twitter will use this to make your timeline better. UndoUndo
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“Sales” (which is what raising money is) is packaging up all the facts into a compelling story. Not embellishing. When you start to “sell,” everyone knows it and it feels dishonest. No one wants to work with someone that’s dishonest.
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Honestly
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Yes!!!
We are a great investment. And we are our first and biggest investors. I’d still invest in us.
It makes sense for founders to tell a good story, but also make sure their companies are invest-able.Thanks. Twitter will use this to make your timeline better. UndoUndo
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