115. Asking for Advice
Josh shares the quintessential example of “ask for money, get advice; ask for advice, get money.
A beginner-friendly guide to raising a seed round and launching your startup fundraising journey.
Josh shares the quintessential example of “ask for money, get advice; ask for advice, get money.
Josh Sanchez, CEO of FloatMe, has raised over $50M in equity, venture debt, and credit. His message to first-time founders: accountability.
Why is the differentiation between pre-revenue and any revenue at all so important? The answer is from a classic startup post.
Ask a VC, “do you invest pre-revenue?” and 90% of them are going to say some version of, “it depends.” Think of revenue as just one throttle. What are the other throttles you have down?
Plan B is another way to make Plan A work.
Don’t waste time trying to convince non-believers, find your true believers.
You cannot possibly over-rotate when trying to compensate for something that you’re not.
You know your business so well, that you personally don’t need visuals to explain it. But your audience doesn’t share your knowledge.
A venture fund’s most trusted source for referrals is its portfolio. Stand out from the crowd by getting an introduction through a fellow founder.
Sometimes your choice is between taking any money and running out of money. In those cases, you can’t be selective. But if you can optimize for one thing with your investors, optimize for trust.
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