Let’s start this article with one fact: I do think venture capital has value. I think angel investor dollars have value. When it comes to startups that are cash intensive businesses, they can do a lot. But as someone who has now looked at thousands, if not tens of thousands of deals in his career, it’s very clear to me that it is becoming the default for young entrepreneurs.
This belief and behavior that is so prevalent now creates a false sense of insurance and comfort. The problem is that that cushion starts to get crunched when the next round of funding becomes less easy to raise which is something we’re starting to see happen more and more with today’s young companies. A founder today starts a business and then acts as an operator for the next fundraising moment, instead of focusing on doing whatever’s needed to actually building that business up.
And the thing is this: twenty-five to fifty percent of all the businesses I have ever looked at were more than capable of being a little scrappier. A little less cush. A less nice office. They all could have built an amazing business with less money. It pays to be scrappy in the early days. Work to build something real. Ditch the company happy hours and use that money to create an amazing product. If you have that amazing product, you don’t need the VC.
This has all changed how I think about investing, but also in what I choose to invest in. I’m far more interested now in only seeing a concrete product when I meet with potential investments. I’ll be the first one to tell you that ideas are shit, and execution is everything. If I can see that you made it already and that it is working, I’m far more interested in helping you take it to the next level.
Do the work.
The first few years of a startup aren’t supposed to be cushy. Those are the years that you grind. If you’re getting into entrepreneurship because you want a lavish lifestyle, you’re in it for the wrong reasons.
You have to be okay with being scrappy.
My agency VaynerMedia was started in the conference room of another company’s offices that we were squatting in. There were six of us. I was already a little wealthy, but because Vayner was a new business, I didn’t feel that I should be putting massive amounts of dollars into it until I knew we really were ready and needed it. It was another two years before we got our own permanent space that we paid an official rent to.
We were hacking. We were hustling. I was bartering my time to other companies, speaking for free, so we could use their spaces.
And guess what? We’re still scrappy. There are startups that haven’t made a penny that have nicer offices than VaynerMedia. Think about that.
I don’t want this to be an article about some old guy investor (me) saying “Hey you kids, you better watch out!” and all that annoying “back in my day” stuff. This is more about me asking you to take a step back and really consider if you want the investor’s money. Because consider this: do you really need the money? Can you start out scrappy, just focusing on becoming an amazing businessperson?
Because the alternative is that you might just end up becoming a financial engineer.
Thoughts? Agree? Disagree? Would love to hear. Leave a comment or a response.
Good way of telling, and fastidious piece off writing to take facfts about my presentation subject, which i aam oing to deliver in academy. https://Lvivforum.PP.Ua/
626434 749490I genuinely prize your function , Great post. 617117
887033 960497My wife style of bogus body art were being quite unsafe. Mother worked with gun initial, following which they your lover snuck totally free upon an tattoo ink ink. I was positive the fact just about every really should not be epidermal, due towards the tattoo ink could be attracted from the entire body. make an own temporary tattoo 388781
Your article is very inspiring with high-quality content. We are sure that you will find additional useful information on our website. Come on, visit us at Jasa Konveksi Bandung and we can collaborate with each other.
Warm Regard.
317634 430770somehow located your internet site when i was kind of stoned. very good read 633770
Znáte nějaké metody, které by pomohly omezit krádeže obsahu? Rozhodně bych ocenil
Obrigado|Olá a todos, os conteúdos existentes nesta
Conhecem algum método para ajudar a evitar que o conteúdo seja roubado? Agradecia imenso.
Com tanto conteúdo e artigos, alguma vez se deparou com problemas de plágio ou violação de direitos de autor? O meu site tem muito conteúdo exclusivo que eu próprio criei ou
Com tanto conteúdo e artigos, alguma vez se deparou com problemas de plágio ou violação de direitos de autor? O meu site tem muito conteúdo exclusivo que eu próprio criei ou
Muito obrigado!}
at web, except I know I am getting familiarity all the time by reading thes pleasant posts.|Fantastic post. I will also be handling some of these problems.|Hello, I think this is a great blog. I happened onto it;) I have bookmarked it and will check it out again. The best way to change is via wealth and independence. May you prosper and never stop mentoring others.|I was overjoyed to find this website. I must express my gratitude for your time because this was an amazing read! I thoroughly enjoyed reading it, and I’ve bookmarked your blog so I can check out fresh content in the future.|Hi there! If I shared your blog with my Facebook group, would that be okay? I believe there are a lot of people who would truly value your article.|منشور رائع. سأتعامل مع بعض هذه|
díky tomuto nádhernému čtení! Rozhodně se mi líbil každý kousek z toho a já
skupině? Je tu spousta lidí, o kterých si myslím, že by se opravdu
Com tanto conteúdo e artigos, vocês já se depararam com algum problema de plágio?
|Tato stránka má rozhodně všechny informace, které jsem o tomto tématu chtěl a nevěděl jsem, koho se zeptat.|Dobrý den! Tohle je můj 1. komentář tady, takže jsem chtěl jen dát rychlý
Esta página tem definitivamente toda a informação que eu queria sobre este assunto e não sabia a quem perguntar. Este é o meu primeiro comentário aqui, então eu só queria dar um rápido
værdsætter dit indhold. Lad mig venligst vide det.
pokračujte v pěkné práci, kolegové.|Když máte tolik obsahu a článků, děláte to?
Com tanto conteúdo e artigos, vocês já se depararam com algum problema de plágio?
476902 418455Thank you pertaining to giving this outstanding content material on your web-site. I discovered it on google. I may check back once more if you publish extra aricles. 982734
Esta página tem definitivamente toda a informação que eu queria sobre este assunto e não sabia a quem perguntar. Este é o meu primeiro comentário aqui, então eu só queria dar um rápido
Podem recomendar outros blogues/sites/fóruns que tratem dos mesmos temas?
fortsæt med at guide andre. Jeg var meget glad for at afdække dette websted. Jeg er nødt til at takke dig for din tid