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by tmlee
2212 days ago
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Not raising or defer raising money can help establish the foundations of a viable long term business. To start with, it does not feel right to have to raise money or give away equity in order to build the first MVP to look for product market fit. Founding team should have all the skillsets required to launch the first version of the product (Tech + Marketing minimum). Tech founder who is able to code the product and has the know how to keep it running for as cheap as possible, and another founder who knows how to bring the product to market. Iterate from there, and if lucky eventually slowly have a sustainable business. Along the journey, not having VC money trains the founders to make difficult choices and learn things the hard way. Ie. Founding team will do as much as they can before hiring someone else, optimize cost of operations rather than throwing money easily at problems, etc. Founders who are in it for the long game and want to build a sustainable business, will find not raising money most attractive. |
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