StartUp Founders Believe Raising Money is the Next Milestone, But It’s Not
The next milestone is you, your ability to build, sell or do something with nothing. The investors are never coming.
There’s this common misconception among startup founders: believing that the next milestone is raising money. However, let me share some eye-opening insights: focusing solely on fundraising won’t work. Here’s why.
You’re not going to secure funding for two core reasons. Firstly, you lack proof that you can execute with the capital. Secondly, you haven’t demonstrated your ability to build something tangible. Essentially, you haven’t yet shown that you’re worthy of investors’ money.
As entrepreneur and investor Reid Hoffman puts it, “If you are not embarrassed by the first version of your product, you’ve launched too late.” This sentiment underscores the importance of taking action and building your business. Instead of fixating on fundraising, your next milestone should be about tangible progress—building something that showcases your capabilities.
So, rather than rushing into the fundraising frenzy, focus on creating. Develop your wireframes, diagrams, mockups—anything that demonstrates progress and potential. By shifting your focus to building your business, you’ll not only attract investors but also lay a solid foundation for long-term success.
