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Funding is not everything in our industry and good VCs offer lot more than money. Think broadly about these things.
by LeicaLatte 8y ago
Funding is not everything in our industry and good VCs offer lot more than money. Think broadly about these things.
- liamcardenas 8y agoYeah but at what cost? Non-monetary offerings are great for differentiating between VCs, but usually don’t justify a round in and of themselves.
- melonbar 8y agoI definitely agree that this is true in certain circumstances. I also feel that there can be caveats with the luxuries that a VC brings to the table. I am trying very hard to be cautious moving forward. Thanks for your response.
- JohnFen 8y agoThis is true. It's also true that there are other ways of getting the additional expertise a VC can bring. Make use of your local Chamber of Commerce, for instance. Most of them can put you in touch with a lot of expertise. One thing I advise regardless of the sort of business or financing being used is to be sure to socialize with other business people, and not just executives or the chamber of commerce. For instance, one of my favorite approaches is to use local suppliers as much as possible, and forge a personal relationship with them. Take them out to lunch every so often. Talk shop (don't just talk about your business -- talk about theirs). You might be surprised how often suppliers can turn into investors, too. If not with cash, then with credit.