Excerpt: Chapter Zero, Page 48, from “The Big Jump Into Entrepreneurship” by Dr. Ramesh Ramachandra, Founder and CEO of Talent Leadership Crucible (TLC)
“Many startups feel that they must tell grand stories about their products and services while promising to achieve certain milestones within an ambitious timeframe.
No one can guarantee this. As a founder, you need to have a minimum viable product (MVP) before even starting to raise funds. Don’t let teammates and advisors pressure you into raising funds too early. Even when you do start raising funds, you need to take responsibility for controlling the information your team presents to investors.
In any case, the fundraising model is only feasible for certain products and services. In other areas, businesses need to focus on the fundamentals first, then decide whether they need external funding.”
What will you do to escape the pressure of telling grand stories to secure massive investment amounts? Discover valuable advice from entrepreneur and strategic advisor Dr. Ramesh Ramachandra in the book “The Big Jump – Entrepreneurship”.
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