This Founder Wildly Spent $400k to Close Investors
One said he needed a “psychiatric examination”.
Raising money to explore an idea is tough. Particularly if you are a first time “unproven” entrepreneur in that market or industry.
Founders often have to “go the extra mile” to convince investors they have a business model worth pursuing and the talent to make it happen.
Common ways of demonstrating this are to hire “rockstar” co-founders who inject a ton of credibility into the venture, or, by building and shipping a basic product that “validates” a hypothesis. Preferably, both.
In other scenarios, putting together a “prototype” which conveys the business and product vision helps a ton.
One of my favorite stories in this regard is that of Steven Schussler. It’s “wild” in multiple senses of the word.
I read his book “It’s a Jungle in There” years ago and feel compelled to share his journey.
You probably don’t recognize him by name. But, as a hospitality entrepreneur, you may recognize some of the products and experiences he has created.
Most notably, he is the founder of Rainforest Cafe.
Also T-Rex Cafe, Yak & Yeti Restaurant, Betty & Joe’s, Hot Dog Hall of Fame, Galaxy Drive…
