The biggest lesson I learned in raising venture money is — VCs don’t need to be convinced, instead they need you to be convinced. Yes, you heard me right, raising venture money is about convincing yourself you should be funded.
But wait, you say, that can’t possibly be true. Here I am with my obviously incredible idea in a totally disruptive space with no competition, and these so called “wallets” just don’t get it — they keep asking me questions. They ask things like — how many users do you have? Or what is your growth? Or why do you think its a big business?
This is OBVIOUSLY a big business and we are DEFINITELY going to kill it and we are 1 month way from complete WORLD DOMINATION.
Well, here is the thing. Nothing is obvious.
Engineer, Immigrant. Vegan. 3x Founder, Managing Partner @2048vc. Previously ran @techstars in NYC. I write #startuphacks: http://alexiskold.net .