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Ouch, sorry to hear that, but I believe everyone does a lot wrong, just hopefully we can outweigh the screw ups with enough successes to make it work. To me th
by davismwfl 11y ago
Ouch, sorry to hear that, but I believe everyone does a lot wrong, just hopefully we can outweigh the screw ups with enough successes to make it work.
To me the support from an institutional type investor (VC) is to help you dodge preventable mistakes and open doors, which is the bigger attraction than just cash (not that cash can be dismissed). It sucks to hear you didn't get that. Do you think your experience is more normal from what you know or that it was more an anomaly?
I ask because I have raised money for a couple of my own companies in the past, mostly from high net worth individuals and every time I was required to provide monthly/quarterly financial reports and projections. And they were reviewed and if stuff didn't line up or they saw something I didn't I would get a call to discuss it. I sometimes resented it right at the moment because I was knee deep in a customer issue or feature, but I learned a lot and it continues to help me now.