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Author here. My point is that founders should avoid VC's like the plague if they can. Founders think taking $1m in funding validates their concept, but only the
by silexia 6y ago
Author here. My point is that founders should avoid VC's like the plague if they can. Founders think taking $1m in funding validates their concept, but only the market can validate your concept. Premature scale will feel good at first, then destroy the founder and the employees who joined.
There are tons of methods to sell, and if FB and Google Ads (I am a Premiere partner of both) are your first avenue of selling, you will get destroyed. Try less expensive methods and only when you prove it elsewhere then try those very expensive areas.
- luc_ 6y agoI'd be interested to hear your proposed alternatives, then. Small business loans?
- silexia 6y agoThe best alternative to VC money is simply getting early customers to help fund you. Do services contracting for them and you will learn a ton about their needs and the problems your solution solves. You will iterate rapidly and bring your business to actually solve customer problems. Beyond customer funding, look at SBA loans. Or bank loans. Avoid credit cards if you don't pay them off monthly. Your business probably won't grow as fast as your debt will if you go this way. I personally used a combination of using my own savings (dipped into about $10k before my net worth started going up) in combination with customer funding.