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Yes we raised over $500k from angels at my last startup and it was the worst decision we ever made. Instead of letting us build a business..we were forced to sc
by livestyle 14y ago
Yes we raised over $500k from angels at my last startup and it was the worst decision we ever made. Instead of letting us build a business..we were forced to scale without product market fit.
- livestyle 14y agoAn example of this is when we were about 2 years into things and we really noticed that our b2b customers for our ecommerce buying club made up close 70% of monthly rev. But we had postioned ourselves as a b2c "wholesale club".. I fought for us to forget about consumers and focus on our b2b customers. I was vetoed due in no small part to the fact that our investors didnt invest in a b2b company. We cratered 8 months later. Pivoting was not as fashionable as it is now (2010) Hope this helps.