Startups please do not raise any money
So I have had a few days of the Ignite startups in my office and they will tell you I ranted at them to do the following:
do not raise any money
Simply this has been my mantra for years, I have never raised any cash for any of the business’s I have created and I never well….I like my freedom too much to do what ever I want and I don’t want some people who have given me some money dictating what I do with my life.
Especially when most of the people who are giving out the money have never created a company and even if they did they will have never done it in your industry. As a founder you probably are doing 15 hours per day on your own company and I would suspect you know everything there is to know about your industry, so how can someone who turns up at your meeting once per month be wise enough to tell you what to do.
Anyway that is my first rant:)
But in some cases raising money is actually a sensible thing to do, I won’t go into all the cases, but:
who you get money from and who you take advice from do not have to be the same person……..TAKE NOTE..
Make sure that your investors are completely aligned with you, your vision and your morals and integrity and not just them getting a return. If they are aligned make sure that any legal documents you and they sign state this.
If any part of he Term Sheet feels shit then it probably will come to bite you in the arse later:) You have been warned.
Doug
Nice video:):)