Where do you look for money?
If your company can't survive years without additional capital you don’t have a business, you have a fire. And it’s the worst feeling in the world because you're in charge of feeding the flames.
Most founders fail because they're searching for cash rather than finding cash.
What does searching look like? Creating a thesis. Finding people that agree with you about it. Arguing with those that don’t. Deciding if you trust the ones that do, or the ones that cave.Eyeing your expenses and wondering which ones you have to axe. Maybe you can just pay your team a little late? Or ask someone for a refund? Go back on your word for a contract?Sweating. Looking at credit card rates & bank loans and payroll and bills. Calculating burn rates and counting the days till you run out of money.
Tbh I've done all these things. Ultimately they put off the inevitable.
What does finding look like?
Digging deep into market's pain, reviewing their desires and convos, creating interactions,Finding problems. Solving them. again and again and again. Watching your bank account increase.Setting aside money for years of operations. Setting aside even more for the play that’ll cement your legacy.Not caring when the bank does go down because you know you can repeat the process again. Knowing that raising money is giving others access to cash at a discount. And ultimately..taking years to just find the purpose that will seed your legacy.
If you're searching... I can tell you one thing for sure.
You're going to get your ass kicked by a competitor who's finding.