The world is littered with great ideas that ran out of money

Name: The world is littered with great ideas that ran out of money
Uploaded: 2023-06-17T06:32:44+00:00
Duration: 30 s
Channel: James Sinclair
Description: A short conversational transcript from a YouTube video in which two speakers (A and B) discuss the founder’s shifting responsibilities once fundraising…

17 Jun 2023 · 1 min

Watch on YouTube

0:30

A short conversational transcript from a YouTube video in which two speakers (A and B) discuss the founder’s shifting responsibilities once fundraising begins. They argue that founders are often pressured to focus on fundraising (to keep the company alive), contrast bootstrapping with taking outside investment, and note that accepting the first external check changes how the company must be managed.

Something you'll consistently.
Hear VCs talk about is that your only job, or your primary job or your biggest job as a founder is to move away from product and sales and marketing and all of those things and into becoming an incredible fundraiser. Because your only job as a CEO.
Is to make sure your business doesn't.
Go out of business. That's your only real job. Ergo, go raise money. So two things here. Number one, if.
You'Re bootstrapping.
It, amazing, because you can't run out of money you don't have anyway. But the minute you start or realize you have to go fundraise and the.
Minute you take that.
First check, you've.
Got to recognize that you're not getting.
That investment because they want you to get to profitability and grow slowly and scale slowly and get there over a decade. They're giving you the money because they want you to go multiple X growth every single year, which means you're going to need more money to accelerate that. So the minute you take your first check, you're now on a lifelong journey of raising money and you need to become phenomenal at raising money. Good luck.