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I used to work in a startup where the all the CEO wanted to do was "network" and networking with VCs and people in the industry usually means go out drinking. I

I used to work in a startup where the all the CEO wanted to do was "network" and networking with VCs and people in the industry usually means go out drinking. It ended up that the team and I (I was the CTO) ended up building the product that made revenue that supported the business while the CEO's networking only meant he didn't show up a lot of times. It lead to absolutely nothing mostly just a waste of time. Focus on building the product and focus on selling and serving your customers. I have since left that company due to issues with the CEO and started my own. I am now doing 0 networking and focusing 100% on building the product and servicing my customers. People in the startup scene here say "you never go networking how's your startup doing, what's your valuation now" to which I reply proudly "we are growing quietly, my company has real revenue not valuations."

tonystubblebine 9y ago
I think most investor intros that go anywhere are made by people who built their network in a much more solid way. Every time I've been introduced to an investor it was by someone I've worked with. So it's really this superficial networking that's completely dumb.
- artellectual 9y ago
  I'm of the school of thought that 'let investors come to you'. Focus on building your product to attract customers and the customers will attract investors. If you do it like that, you will always be the one deciding how much money to take for how much of your company you will give away.
  - thaumasiotes 9y ago
    Theoretically, once you have customers you could take loans instead of giving your company away...
    - ig1 9y ago
      Typically the trade-off is how much money you want. Once you're an established company you can probably borrow around ~20% of your revenue while an equity investor will typically be putting in 3x-5x your revenue.
brianwawok 9y ago
You sound like my kind of guy.. Just build the product! A company does not need someone full time yakking it up.

tonystubblebine 9y ago

I think most investor intros that go anywhere are made by people who built their network in a much more solid way. Every time I've been introduced to an investor it was by someone I've worked with. So it's really this superficial networking that's completely dumb.

artellectual 9y ago
I'm of the school of thought that 'let investors come to you'. Focus on building your product to attract customers and the customers will attract investors. If you do it like that, you will always be the one deciding how much money to take for how much of your company you will give away.
- thaumasiotes 9y ago
  Theoretically, once you have customers you could take loans instead of giving your company away...
  - ig1 9y ago
    Typically the trade-off is how much money you want. Once you're an established company you can probably borrow around ~20% of your revenue while an equity investor will typically be putting in 3x-5x your revenue.

brianwawok 9y ago

You sound like my kind of guy.. Just build the product! A company does not need someone full time yakking it up.