Mike and Speaker B argue that successful fundraising requires shifting from scarcity to abundance mindset. Founders should frame investors as lucky to join, not beg for money. Top graduates of their Funding Lab program succeed because they've validated their ideas and carry that confidence into pitch meetings.
And maybe just go over abundance one more time and like the psychological thing. Yeah. Psychological, because I think that's super interesting.
Yeah. So a lot of like, as entrepreneurs, it can be really easy to be in a scarcity mindset because we're like creating something that's never existed before. So in a way it's scarce. And we need to We need to, in fundraising, let go of a scarcity mindset and get into an abundance mindset of this round is closing. Anybody who invests is frickin lucky, because they're investing in my company, which is badass and exciting. And I've done my homework. And I know that, that we're going to succeed. So anybody who gets the chance to invest is actually— they're lucky, like they're the lucky ones, they should be feeling the scarcity. That they better invest now or they might miss their chance. So it's like this mental shift from looking for money to offering an opportunity.
Like, 100%.
Yeah.
Yeah. If you look at the top founders in our company, so we, you know, we run Funding Lab too, like 4 times a year. You've been a mentor there as well. And it's like the top founders go in this with like an incredible sense of confidence. Like, you know, you're lucky to get a chance to invest in this business. And that's how you should really think about it because the reality is that You know, you've done a lot of validation and you're pretty confident in your business. That's why you went through FI, you graduated. Otherwise, you probably wouldn't even have been able to graduate, right? So carry that into your investor meetings.
And that's a great point, Mike, is like, if you don't feel that confidence, why?
Yep.
Like, is there something, is there some skeleton in the closet that you're not dealing with? Like, that, that, really getting into that place of like, wow, there is something that I feel unsure about. I'm gonna go spend some time like fixing that so that I, when I go back to fundraising, I do feel that confidence.
