Days transform to weeks. Weeks morph to months. It never goes as fast as you think. Raising money for your startup is bouts of boredom and frustration sprinkled with excitement and more frustration. They are interested, at least that is what they say. Quick, give us your market references, convince us your technology works and impress us with your team. As fast as it comes, it fades away. No reason. No feedback. Just “it’s not a fit” or “the market is unproven” or “the technology is too risky.” You can’t let it get to you.
More Fish In The Sea
There are plenty more to talk to. Plenty more to convince. Plenty more to wine and dine. It never ends. Once the round is closed, you take a much needed day off and start again. Startups always need money. The beast needs to be fed. Working for free can only take you so far. Your employees need to feed their families. They will only hang on for so long. They are the best of the best but even the devoted have to eat.
It’s The Life
Most people can’t figure out why, smart, rational (debatable) people would fling themselves into startups. Most see hopeless dreamers who want to strike it rich. Those types fade fast. The “get rich quick” crowd can’t handle not getting paid, uncertainty about funding or the constant of being under resourced. The people drawn to the startup life know the risks and enjoy the struggle. It’s us versus them. It’s changing the world versus being a cog in the wheel. It’s working on cool stuff versus the same old, same old. To them, making an impact matters. For them, the struggle continues.
Thanks for sharing your thoughts. I agree with you. Currently it’s even more difficult to raise money. I think your statement was true even during good times. As Guy Kawasaki stated: if you purchase a good for 1$ and sell it for 5$ you will always be successful. I’d say, if you have a convincing, simple product that has a proven track in the market, you will find an investor. Best case: you can grow by refinancing your cash-burn with your profits. But then, I think, you don’t have to worry about investment at all, anyway.