During a recent interaction with budding startup founders, I got regularly asked the same question:
"How do I raise money for my startup?" 🤷♂
I asked them, "Why do you need the money?"
"To build a team, to have an office, to build the solution . . . "
"Yes. I have an idea, and I'm looking for funds to bring it to market."
"Well, you don't need the money." I said. 💁♂
Yes. You need a website. Its available for less than hundred dollars.
You need an office. You already live in one. Your home.
You need a team. You already have it. Your contact list.
You need customers. You get it on social media for free.
You don't need investments. You need persistence. 🤫
A lot of people today keep looking out for investments, and seed money and VCs.
They forget to put in the work and let their dreams die once they try approaching ten seed fund companies and get rejected.
That's the problem with people today who want to startup for the glamor.
They hear news and see people raising millions of dollars in funding and think they deserve it all too.
Customers are your investors. Period.
Focus on giving them the very best you can.
Everything else will arrive, in time.
What do you think? Do you agree?
Leave a comment below 👇
P. S: By the way, I run two bootstrapped companies earning over 5 crores in revenue annually, so I'm talking from personal experience.
And, I've never raised investment.