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I've been quite surprised by the "get more traction" argument. It's like, if I had traction, what the hell would I need you for! Aren't you supposed to be the
by uuilly 19y ago
I've been quite surprised by the "get more traction" argument. It's like, if I had traction, what the hell would I need you for! Aren't you supposed to be the cowboys of investing? Sheesh. Tell me my idea sucks, that I suck or that my market sucks, anything but "your company doesn't exist yet so we can't fund it." Sort of a self defeating argument.
- stiennon21 18y agoHeh, I get the same thing. I am launching a service based business. Someday I am going to thank the 25 VC firms that gave me that "more traction" statement as I bootstrap the business.
- alain94040 18y agoWhen I pitched my previous startup, a few years back, VCs made us jump through those standard hoops: us: here's our Powerpoint presentation VC: nice concept, come back when you have a product [1 year later] us: here's our product, let me give you a demo VC: nice product. Come back when you have one customer. [6 months later] us: great news, we just signed XYZ, Inc. (big name) as our first customer. VC: congratulations. Come back when you have traction (that is, multiple customers) .... True story. We eventually got funding, 3 rounds. In another post, I'll discuss the other lesson I learned in VC funding: don't raise money when you need money. Alain - fairsoftware.net