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One of the best parts of this, illustrated by the use of red squares, is that "sit and do nothing" isn't part of fundraising. Common YC advice for fundraising
by mrmch 12y ago
One of the best parts of this, illustrated by the use of red squares, is that "sit and do nothing" isn't part of fundraising.
Common YC advice for fundraising is "optimize for speed" (with valuation, amount, brand names, etc, coming second). Don't get trapped in long diligence cycles, waiting for a lead, or other road blocks.
- ashrust 12y agoYes. I've convinced myself so many times that fixing a bug or shipping a new feature was more important than closing the round.
- davros 12y agoOutside YC, chasing a 'yes' actively to turn it into a completed investment is even more important. Optimize for speed is closely related to optimize for outcome. One minor addition to the chart - if investor asks for a longer timeframe, respect that - and chase other investors!
- ashrust 12y agoBut a longer a timeframe where? I think waiting on signing docs after agreeing to them is far from ideal, same goes for waiting on wiring the money, unless agreed in advance.