Before investors, a startup needs a healthy dose of inspiration, coffee and networking
My hypothesis that chasing after investors and angels is a waste of time and energy at the start of your startup.
We all hear those awesome stories. Startups raising dizzying amounts of money with an awesome product. Now, fear not, those stories are completely true. If you have a billion dollar idea there is hope of making it a reality and getting insanely rich. Yet, let me ask, why do you want to have your own startup? Is it simply to work like a madman and get a lot of money (a simple career change to another desk job would achieve the same thing)? Is it to have all the freedom in the world to decide exactly how to make your mark in the world? Or, is it to create something that is you? A company or product that see the world the way you do?
I am an idealistic idiot. Proud to be one too. Apart from invalidating myself from the Sri Lankan bridegroom market by quitting my job, the real reason is to make something of my own. Something that I can point and say “Look what I did! It feels awesome!”. To achieve that end, it seems to me seeking an investor is wrong. I mean: Can one do whatever they want with someone else’s money and time? While on the job, did we not feel the restrictions of working for someone else’s money? Why even bother to quit a job and start your own company if nothing improves your situation?
To this end, I feel startups running around asking for money and dear angels to take them under their wings to be unnecessary. I don’t deny that at some stage of your company’s organic growth a healthy injection of funding might be required. What I do deny is the absolute necessity of it at the very start of your business. Who knows, maybe, just maybe you will be able to continue on without having a third party invest money in you, and still achieve huge growth. This is one hypothesis I am testing right now. I am still running my startup under it’s own steam. Producing the product it wants to. Working with partners, it want to work with.
Let me just state the obvious: What you do need at the very start of your startup are:
- Inspiration
- Coffee
- Networking
Inspiration, is an obvious include to start your startup. Read, travel and meet to find inspiration to solve problems. The problems you want to solve.
Coffee, to fuel those hours required to workout all the crazy ideas and make em real. Very real.
Network, coz no psychopath can be awesome without a crowd. They will help to spread your idea. Refine that idea through feedback. Help you find more inspiration. Creating that positive cycle is essential.
Just maybe, just maybe then the angels might come after you. Better, if you are really desperate for funds, atleast now even in that desperation, you might have a better leverage to workout an agreement. Or, just maybe, you might find enough inspiration and support to make your product and company a reality without VCs and angels.
Simply, rather than spending all that energy on convincing VCs and others, why not create something awesome!
Have an awesome day all!
