Jason M. Lemkin says founders who tell investors "I need money to hire a sales team" sound desperate. Investors back companies already winning. Frame fundraising as acceleration of a proven model, not survival.
Chapters
What too weak means is too weak about your startup. And I'll tell you the number one thing that I hear that to me is always a huge flag, which is I just need money to blank. I need money to hire a sales team. I need money to grow. The worst one is to grow faster. Like, I'm not growing so great today, but if I had money, I'd hire a magical salesperson off the internet and I would grow faster. No, that makes you sound too weak. Winners always find a way to win. And the truth is investors really want to put money into startups that don't need it. Now, that rarely becomes true until the very late stage, but think about that idea. Think about presenting truthfully a message where you don't need this money, just want it to win even bigger. That should be your mantra. Not, I can only win if I have your money. Even if it's true, it's, it's too wishy-washy and too weak.