My hardest lesson from fundraising? You probably don’t need to fundraise. Or at least as much as you thought you did. Fundraising itself is hugely distracting. And once you get a big raise done, now you have investors to manage, board meetings to prep for, and major decisions are now a negotiation. And if you raise money – trust me, you’ll find a way to spend it. After every raise, your monthly costs will step up. That’s fine if revenues rise nicely in line. But it’s a problem if something unexpected happens – and it normally does.
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